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Consider/Discuss/Act on a Resolution Authorizing the City Manager to Apply for and Accept, if Funded, Brownfields Revolving Loan Fund (RLF) Grant Funding from the U.S. Environmental Protection Agency (EPA)
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MEETING DATE: November 6, 2012
DEPARTMENT: Development Services - Planning
CONTACT: Janay Tieken, Grants Administrator
Kevin Spath, Assistant Planning Director
Arrie Mitchell, Planner
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Resolution for application and acceptance of the grant, if awarded
ITEM SUMMARY:
· Brownfields Revolving Loan Fund (RLF) grants provide funding for a grant recipient to capitalize a revolving loan fund and to make loans and provide subgrants to carry out cleanup activities at brownfields sites
· Staff requests approval to apply for a $1,000,000 grant and acceptance of amount, if funded, to capitalize a revolving loan fund
BACKGROUND INFORMATION:
· The City of McKinney is currently receiving $400,000 in EPA Hazardous and Petroleum Assessment grant funding. Assessments funded by this grant have identified areas that have the potential to utilize cleanup funds.
· The RLF will provide funding to cleanup environmental contamination identified through privately and federally funded assessments
FINANCIAL SUMMARY:
· If awarded, this will be an FY14 grant
· The grant will provide up to $1,000,000 on a reimbursable basis
· Match is 20% and will be provided by those accessing RLF funds for cleanup of contaminated sites
BOARD OR COMMISSION RECOMMENDATION:
· N/A