ACTION REQUESTED:
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Communication from the City Manager with a Request to REPEAL Resolution No. 15-188 and REPLACE with a RESOLUTION Concerning Support of the 2015-2017 ECONOMIC DEVELOPMENT GREATER PEORIA MANUFACTURING CLUSTER STRATEGY GRANT APPLICATION.
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BACKGROUND: The Greater Peoria Economic Development Council (GPEDC) was contacted by the federal Economic Development Administration (EDA) in late May with an opportunity to apply for $200,000 in additional funding in support of administration of the region's "Investing in Manufacturing Communities Partnership" (IMCP) Plan over the next two years (Oct 2015 - Sept 2017). The plan, which is attached, outlines efforts to grow and diversify manufacturing operations in the region.
In order to apply for the grant, GPEDC must have a local unit of government serve as co-applicant. The attached resolution authorizes the City of Peoria to participate in this effort. GPEDC will completely administer the grant from application to compliance so there is no additional work that is required of City staff. The grant does require a local match of $200,000. This match will consist of GPEDC investor funds, including identification of $100,000 in City of Peoria contributions. These funds have already been pledged by the City so no additional financial obligation exists.
The proposed Resolution repeals and replaces Resolution 15-188 approved on June 9, 2015 regarding the EDA grant. The updated Resolution reflects minor text changes to the previously approved Resolution. Changes include a new total grant amount of $200,000, authorized the Mayor to execute, submit and accept the award, and updates the grant period.
FINANCIAL IMPACT: None. The City has already budgeted and pledged the required match to the GPEDC that will be used for this grant. GPEDC will administer the grant.
NEIGHBORHOOD CONCERNS: The IMCP Plan is a subset of the Focus Forward Central Illinois effort which was the result ...
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