TITLE
A Resolution of the Mayor and City Council of Maricopa, Arizona authorizing the submission of an application for the Rural Economic Development Grant to construct certain street infrastructure improvements for the Estrella Gin Business Park, authorizing the execution of documents needed for the grant application, and agreeing to accept public improvements and maintenance responsibility for said infrastructure. Discussion and Action.
AGENDA ITEM DESCRIPTION
The Arizona Commerce Authority (ACA), Rural Development Economic Development Grant (REDG) is a competitive grant program designed to help rural Arizona communities develop infrastructure that strengthens their capacity and competitiveness for economic growth and thereby improving economic conditions and quality of life in rural Arizona. The RDEG provides grants to partially fund qualifying infrastructure projects that will generate private sector job creation (or retention) and capital investment, particularly in base industries. The RDEG complements the Arizona Certified Sites Program, which identifies "development ready" sites in rural Arizona on the ACA's website, and Economic Strength Projects Program, which provides funding for road projects in rural Arizona.
The total amount of funds available under FY2015 REDG is $2,000,000. Up to $1,000,000 will be available in each of two funding rounds. An individual REDG award cannot exceed $250,000.
The Economic Development Department is seeking $250,000 to assist in funding the construction of a major arterial roadway through the Estrella Gin Business Park to State Route 238. The Estrella Gin Business Park is a 52-acre, City-owned parcel that is planned to be developed through a public-private partnership. Approximately 40 acres is available for private development, anticipated to include a mix of industrial, office and flex space. The goal for the business park is to provide employment opportunities for local residents by allowing expanding businesses to remain in the community and facilitating the relocation of industry to Maricopa. Construction of the roadway is critical to providing the highway access needed to attract industrial and commercial development to the Estrella Gin Business Park, facilitating travel of users throughout Maricopa, and enhancing public safety by reducing response times to areas along State Route 238.
At least 10% of the qualifying project costs must be paid for by the grantee and/or one or more parties working in conjunction with the grantee. Documentation of the committed sources and amounts of the match must be provided. A cash match of qualifying expenses in excess of 10% is encouraged in order to maximize the number of REDG awards and is a positive factor taken into consideration in evaluation the REDG application.
The match for this application is $25,000 and is available under the Ten-Year Capital Improvement Plan Fiscal Years 2015-2024, Transportation DIF2 Fund, Transportation, Street Capital Projects, Edison Road Extension (34644146-67750-35029).
This item will be presented by Micah Miranda, Economic Development Director and Mary Witkofski, Community Programs Manager.
STAFF RECOMMENDATION
Staff recommends the Mayor and City Council pass the resolution authorizing the submission of an application for the Rural Economic Development Grant to construct certain street infrastructure improvements for the Estrella Gin Business Park, authorizing the execution of documents needed for the grant application, and agreeing to accept public improvements and maintenance responsibility for said infrastructure.