HomeMy WebLinkAbout2009-732-07/27/2009 CCHtri
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14,0solution prepared by Nancy Eckert, City Clerk, 715 Mulberry
cS lr , Waterloo, Iowa.
c
r ~ RESOLUTION NO. 2009-732
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s o o b" RESOLUTION OF THE CITY COUNCIL OF WATERLOO,
s s se" IOWA GRANTING THE IOWA DEPARTMENT OF ECONOMIC
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o H DEVELOPMENT CERTAIN FINANCIAL ASSURANCES IN
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n n ¢ CONJUNCTION WITH THE COMMUNITY DEVELOPMENT
o 0 H ~ BLOCK GRANT APPLICATIONS .
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¢ n WHEREAS, the total cost of constructing the Storm Water Lift
t' ion projects are $10 , 956 , 250 (commercial areas) and
48. 3-00, 000 (residential areas) ;
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WHEREAS, the City of Waterloo is applying for $3 , 941, 250
(commercial) and $6, 300, 000 (residential) in Community
`D41opment Block Grant (CDBG) funding assistance for said
trbiects;
5 ` WHEREAS, the City of Waterloo is matching the CDBG requests
Vittr $7 , 000, 000 in Economic Development Administration (EDA) or
4oc t-1 funds;
WHEREAS, said Program funds are part of the Supplemental
Funds for Infrastructure Disaster Recovery;
WHEREAS, these mitigation projects were brought about by the
Flood of 2008 .
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that $7, 000 , 000 of local funding (EDA) is
herewith committed.
PASSED AND ADOPTED this 27th day of July, 2009 .
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Tim Hurley, Mayor
ATTEST:
Nancy Ecke , CMC
City Clerk