HomeMy WebLinkAbout05. 13-542
DECEMBER 10, 2013 13-542 RESOLUTION
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PURPOSE: AUTHORIZE SUBMITTAL OF EPA BROWNFIELDS REVOLVING
LOAN FUND GRANT
INITIATED BY: COMMUNITY DEVELOPMENT
WHEREAS, the Environmental Protection Agency (EPA) has funds available in
the form of grants for brownfields revitalization; and
WHEREAS, the City of Oshkosh desires to apply for a Brownfields Revolving
Loan Fund (RLF) grant to capitalize a revolving loan fund from which to provide loans
and subgrants to carry out cleanup activities at brownfields sites in the community.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the proper City officials are hereby authorized to submit a grant proposal
to the Environmental Protection Agency to obtain funds for said purpose.
BE IT FURTHER RESOLVED that the proper City officials are hereby authorized
and directed to execute any and all documents and assurances which may be required
by the Environmental Protection Agency.
BE IT FURTHER RESOLVED that if said grant funds are awarded, the proper
City officials are hereby authorized and directed to accept said funds, pursuant to the
terms of the grant applications, and to execute any and all documents necessary for
purposes of same.
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ON THE WATEn
TO: Honorable Mayor and Members of the Common Council
FROM: Allen Davis
Community Development Director
DATE: December 5, 2013
RE: Authorize Submittal of EPA Brownfields Revolving Loan Fund Grant
BACKGROUND
This is a new grant program the City is pursuing. If successful, the EPA would provide a
grant of $1,000,000 to the City to create a Revolving Loan Fund (RLF) for environmental
remediation. The purpose of the RLF would be for the City to loan the funds out to private
businesses for remediating sites somewhere in the City. The private businesses would then
repay the City so that the City could re -loan the funds for another project.
ANALYSIS
The City has many sites that will need remediation prior to redevelopment. Private sector
lending requirements sometimes makes the redevelopment of contaminated parcels difficult
and cost prohibitive. The City's new EPA -RLF funds could serve as a new source of funds
for the redevelopment of the contaminated sites.
FISCAL IMPACT
The City will not incur any costs, and the redevelopment of contaminated sites would
increase the property tax base.
RECOMMENDATION
City Council approves submitting the EPA Brownfields Revolving Loan Fund Grant.
Approved,
City Manager