Resolutions-2015-099

RESOLUTION NO. 2015- 099 RESOLUTION SUPPORTING AND APPROVING THE REVITALIZE IOWA' S SOUND ECONOMY ( RISE) GRANT APPLICATION FOR THE CONSTRUCTION AND EXTENSION OF VILLAGE DRIVE Whereas, the City of Tiffin/ Developer proposes to extend Village Drive from its current terminus east to Park Road; and Whereas, the proposed road construction improvements will allow for the provision of approximately 8 commercial lots to be developed; and Whereas, the City' s adopted Comprehensive Plan signifies the area served by Village Drive as a future economic development growth area and recommends the fostering of its development; and Whereas, the City recognizes a need for job creation that is dependent upon the construction of Village Drive; and Whereas, the extension of Village Drive will facilitate commercial development consistent with the City' s desire to grow the tax base, its future land use plan and with the intent of the RISE program to fund project which will grow the Iowa tax base and facilitate job creation; and Whereas, the City will be responsible for adequately maintaining the roadway improvements that are not within the Iowa Department of Transportation right- of-way; and Whereas, the estimated RISE eligible cost of the construction of Village Drive is 3, 157, 358 and the City of Tiffin is applying for the RISE grant in the amount of 1, 578, 679 ( 50%); and Whereas, the developer is committed to funding all remaining roadway construction costs; and Whereas, the City of Tiffin, Iowa endorses the construction of the proposed Village Drive construction and extension for dedicated public use. Now, therefore be it resolved by the City Council of the City of Tiffin, Iowa, that the City of Tiffin hereby officially endorses and directs the City Administrator to submit a RISE grant application to the Iowa DOT for eligible construction expenses for Village Drive and hereby authorizes the City Administrator or designee to execute all necessary agreements and documents for said grant with the Iowa Department of Transportation.