Title
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)
Summary
MEETING DATE: September 21, 2010
DEPARTMENT: Development Services-Planning
CONTACT: Janay Tieken, Grants Administrator
Kevin Spath, AICP, CFM, Senior Long Range 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 will be receiving $400,000 in EPA Hazardous and Petroleum Assessment grant funding on October 1, 2010. Assessment funds cannot be used to conduct cleanups
• The RLF will provide funding to cleanup environmental contamination identified through privately and federally funded assessments
FINANCIAL SUMMARY:
• The grant will provide up to $1,000,000
• Match is 20% and will be provided by those accessing RLF funds for cleanup
BOARD OR COMMISSION RECOMMENDATION:
• N/A