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Item No. 20.
Resolution 21-28 - Consider approval of
committing UDAG funds for a project at the RAC. (Stubbs/Stark)
Initiated by: Scott Stark
In 1980, the City of Roswell made an application for UDAG funds in the amount of $3 million dollars. Thereafter, the City Council adopted Resolution No. 1767 to retain remaining UDAG funds in the Airport Fund to facilitate additional industrial development at the RAC. In August 2017 HUD posted a notification informing recipients that UDAG awards were closed. In Resolution 19-04, the City Council resolved that remaining UDAG funds were to be utilized in accordance with the Airport Capital Improvements plan.
The City now intends to make capital improvements to Hangar 84 at the RAC, in accordance with its Capital Improvements Plan and, will seek a grant for $2.787 million from the U.S. Economic Development Agency (“EDA”) to contribute funding. The proposed resolution would commit remaining UDAG funds in the amount of $1,250,000 as matching funds to secure the EDA grant.
The City intends with this Resolution to commit $1,250,000 in UDAG funds to match a grant from EDA for $2.787 million.
BOARD AND COMMITTEE ACTION:
The Legal Committee recommended (3-0) approval at their meeting on April 29, 2021.
Resolution 21-28 - Consider approval of committing UDAG funds for a project at the RAC.
ATT 1 Resolution 21-28
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