HomeMy WebLinkAbout19-09 REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH
MARCH 20, 2019 19-09 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: AUTHORIZE SUBMITTAL OF SITE ASSESSMENT GRANT
APPLICATION TO WISCONSIN ECONOMIC DEVELOPMENT
CORPORATION ON BEHALF OF MERGE, LLC; ACCEPT FUNDS—
MARION AND PEARL REDEVELOPMENT AREA; PARCELS H
AND
WHEREAS, vacant parcels, Hand I located in the Marion and Pearl Redevelopment
Area remediation of the site is necessary for future redevelopment; and,
WHEREAS, Wisconsin Economic Development Corporation has funding available
for such purposes and the Redevelopment Authority is an eligible recipient for such funds;
and
WHEREAS, the Redevelopment Authority has approved and Option to Purchase
with Merge, LLC for Parcels H and I in,the Marion and Pearl Redevelopment Area and as
part of their due diligence need to complete Phase I and Phase II environmental site
assessment work and have asked for the RDA's support of an application to WEDC; and
WHEREAS, any matching funds required for the grant will be provided by Merge,
LLC.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Authority of the
City of Oshkosh that Executive Director Allen Davis is hereby authorized and directed to
act on behalf of the Redevelopment Authority to assist Merge, LLC with an application for
Site Assessment Grant (SAG) funds from Wisconsin Economic Development Corporation
(WEDC) for the purpose of remediation and any authorized purpose under the terms of
the grant for properties H and I located in the Marion and Pearl Redevelopment Area in
the City of Oshkosh.
BE IT FURTHER RESOLVED, that if said grant funds are awarded, the proper
Authority officials are hereby authorized and directed to accept said funds, pursuant to
the terms of the grant application, and to execute any and all documents necessary for
purposes of same.
TO: City of Oshkosh Redevelopment Authority
FROM: Allen Davis, Community Development Director
DATE: March 14, 2019
RE: 19-09 Authorize submitting application to the Wisconsin Economic
Development Corporation (WEDC) on Behalf of Merge LLC for a Site
Assessment Grant (SAG) —Parcels H &I, Marion/Pearl Redevelopment Area
BACKGROUND
The City can submit a Site Assessment Grant (SAG) on behalf of Merge LLC. The Wisconsin
Economic Development Corporation (WEDC) is the SAG administrator and would review and
award the grant funding. The maximum grant amount that could be awarded is $150,000 or up
to 50% of eligible project costs associated with Phase I and Phase II environmental site
assessment activities.
ANALYST
WEDC informed the City and Merge that funds are still available in the 2018 fiscal year budget
which ends in June 2019. The RDA has approved Option to Purchase Agreements with Merge
for Parcels H and I within the Marion/Pearl Redevelopment Area. Merge needs to perform site '
investigation work as part of their due diligence to finalize their funding and construction plans
and has asked for the RDA's support in applying for a SAG grant. Merge is working with its
team in determining the costs to perform the site investigation work on these two parcels.
The private developer, Merge LLC, will provide the matching funds required under the grant
of up to 50% of eligible site investigation costs. If awarded, City staff will work with the
developers to prepare an agreement that will transfer the matching fund requirement and other
grant requirements from the City to the developers. Staff will bring that Agreement forward to
the RDA prior to accepting the SAG grant.
FISCAL IMPACT
There are no City funds included in the SAG grant application or the implementation. City staff
will provide grant administration.
RECOMMENDATION
The RDA authorizes City staff to submit a Site Assessment Grant application to WEDC on behalf
of Merge LLC for Parcels H and I in the Marion/Pearl Redevelopment Area, and if awarded,
accept the grant funds.
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