Agenda - Economic Development Authority - 04/11/2013

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Staff sent out a request for proposal (RFP) for a phase II environmental assessment in March. Responses ranged from $6,500-$10,000. Staff is aware of a grant opportunity to pay for the phase II environmental study, for the potentially needed response action plan (RAP) and for reimbursement on past environmental testing conducted on the Subject Property (50%). In total, the grant application would be near $10,000. The application deadline is May 1. The award date would be mid June. Staff would like EDA direction to pursue this opportunity. This grant opportunity is called a "Tax Base Revitalization Account Grant" and is funded by the MetCouncil. Funding Source: NA Staff Recommendation: Staff would like EDA direction regarding the opportunity to apply for a 'Tax Base Revitalization Account Grant' through the MetCouncil to pay for past and future site investigation costs. Alternatives: (1) Apply for a Tax Base Revitalization Account Grant This would give the City an opportunity to pay for 50% of previous site investigation costs and 100% of future site investigation costs with a grant. Estimated total, $10,000. Staff recommends the EDA direct Staff to pursue this opportunity. (2) Do NOT apply for Tax Base Revitalization Account Grant This would NOT give the City an opportunity to pay site investigation costs with a grant. Said costs would funded through the EDA budget. Action: Direct Staff Apply for a 'Tax Base Revitalization Account Grant' to pay for site investigation costs from the development of the former municipal center site. Attachments Cost Benefit 04042013 Fire Station Funding 04042013 Data Center Letter to Residents 03272013 Form Review Inbox Reviewed By Date Kurt Ulrich Kurt Ulrich 04/05/2013 03:21 PM Form Started By: Patrick Brama Started On: 04/04/2013 Final Approval Date: 04/05/2013