I. Council Action Requested.
Title
To endorse an application for Community Development Block Grant (CDBG) funds for the “Depot Street Sewer Improvement Project.”
Body
II. Basis for Council Action.
Council approval of this item is required because;
a. Cumberland County CDBG program rules require the endorsement of applications for funding from local elected officials prior to submission, and
b. The deadline for application submission is 4:00 p.m. Thursday, February 1, 2018.
III. Issue Summary.
A draft copy of the application is attached, which includes descriptions of the project, its purpose, rationale, cost, and proposed funding. The final application is subject to minor edits prior to submission, but will not vary substantively from the draft.
Consistent with the Council’s discussion on January 2nd, the $240,000 in other cash match, shown on the draft application as coming from ratepayers, likely would be offset by a TIF on the proposed Depot Street development. However, for the purposes of the CDBG application these funds have not been shown because we are not far enough along in that process. We will have more time to work with the developer and the Council to get those plans and funding streams in place while the grant application review process goes on, and before the Council is asked to make any final decisions.