2002 AGN JAN 22 I01 - Laserfiche WebLink

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REDEVELOPMENT AGENCY FOR THE CITY OF COLTON For the City Council Meeting of January 22, 2002 TO: Honorable Mayor and City Councilmembers FROM: Greg Lantz, Redevelopment Program Manager G - SUBJECT: Consideration and Approval of a Resolution Accepting and Approving the Specific Terms and Conditions and Special Award Conditions for a $1,000,000 Public Works and Economic Development Grant from the Economic Development Administration and authorizing the City Manager to execute all necessary documents pertaining to the EDA Grant. DATE: January 15, 2002 Background On March 22, 2001 the Redevelopment Agency for the City of Colton submitted a pre - application to the United States Department of Commerce - Economic Development Administration (the "EDA") for a $1,000,000 Public Works and Economic Development Grant for certain public infrastructure improvements required as part of East Valley Land Company's (EVLC) 75 acre industrial development in the Cooley Ranch. On April 24, 2001 the Agency received a letter from the EDA inviting the City of Colton to apply for a $1,000,000 Public Works and Economic Development Grant to construct these public infrastructure improvements related to the EVLC project. A copy of this Invitation Letter is attached hereto as Exhibit "A". On May 11, 2001 the City of Colton submitted the formal application to the EDA for consideration. On January 3, 2002 the City of Colton received a fax transmittal from EDA awarding the $1,000,000 Public Works and Economic Development Grant to the City of Colton to construct the necessary public infrastructure improvements to serve EVLC's industrial development within the Cooley Ranch Project Area. A copy of this letter is attached hereto as Exhibit "B" to the staff report. On January 14, 2002 the City of Colton received the formal Financial Assistance Award package from the EDA, a copy of which is attached to the staff report as Exhibit "C". According to the cover letter, the City of Colton has 30 days from the date of the award, which was December 31, 2001, to execute and return the Financial Assistance Award documents to the