HomeMy WebLinkAbout20131326.tiffRESOLUTION
RE: APPROVE REQUEST FOR INCREASE OF COMMUNITY DEVELOPMENT BLOCK
GRANT (CDBG) ECONOMIC DEVELOPMENT AGREEMENT
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with a Request for an Increase of the
Community Development Block Grant (CDBG) Economic Development Agreement
#F12CDB11582, from the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, on behalf of the Department of Finance and Administration, to
the Colorado Department of Local Affairs, with further terms and conditions being as stated in said
request, and
WHEREAS, after review, the Board deems it advisable to approve said request, a copy of
which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Request for an Increase of the Community Development Block Grant
(CDBG) Economic Development Agreement #F12CDB11582, from the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, on behalf of the
Department of Finance and Administration, to the Colorado Department of Local Affairs be, and
hereby is, approved.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 3rd day of June, A.D., 2013.
BOARD OF COUNTY COMMISSIONERS
WELD CO !LORADO
ATTEST erva-R.,.4Ce`
Weld County Clerk to the B
BY:
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Barbara Kirkmeyer
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William . G- _ hair
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Rademacher, Pro-Tem
Sean P. Conway
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Mike Freeman
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Date of signature: JUN 1 2 2013
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2013-1326
FI0057
May 21, 2013
OFFICE OF BOARD OF COMMISSIONERS
PHONE: 970-336-7204
FAX: 970-352-0242
1150 O STREET
P.O. BOX 758
GREELEY, COLORADO 80632
Bob Todd
Colorado Office of Economic Development
1625 Broadway, Suite 2700
Denver, Colorado 80202
Re: Grant increase request: CDBG Agreement #F12CDB11-582 for Weld County
Dear Mr. Todd:
The purpose of this letter is to request an increase in the maximum amount of the CBDG Agreement
#F12CDB11-582 for Weld County. The current amount is $750,000.00. Weld County is requesting an
increase of $1,000,000.00, for a total maximum amount of $1,750,000.00. No additional increase in
administration reimbursement is being requested.
The reason we are requesting the increase is due to the higher level of business activity in Weld and Larimer
counties, which has resulted in a greater demand for requests that meet CDBG funding requirements. Upstate
currently has $500,000.00 committed, with an additional $704,000.00 in process. Upstate Colorado is also
working with four additional companies with expected total requests of approximately $600,000.00, and
anticipates $100,000.00 in micro loans. Attached, you will find Exhibit A, outlining current and projected
activity.
The completion of the three pending projects will add over 170 jobs to Weld and Larimer counties and will
contribute significantly to the tax base. Two of the three companies are small manufacturing companies and
one of those will support green energy.
We appreciate the support received from the State and look forward to fully utilizing CDBG resources to
expand job growth opportunities in Northern Colorado. Please feel free to contact Robert Hinderaker at
Upstate Colorado at 970-356-4565 if you have questions or would like to discuss this change in more detail.
Very truly yours,
BOARD OF?MMISSIONERS
William F. Garcia, Chair
cc: Robert Hinderaker, Upstate
Monica Mika, Finance Director
2013-1297
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5-a9-02-0, 3
Weld County
Exhibit A
Borrower
CDBG amount
Employment
Funding Status
Applications
Summit Entertainment of Northern Colorado, LW
$500,000
125
2014
M+M Manufacturing, Inc.
$304,000
35
Summer2013
Innovative Switchgear Solutions, Inc.
$400,000
26
June 1, 2013
Total
$1,204,000
186
'pending
Estimate
Ace Wellington
$200,000
14
Energy USA
$200,000
16
Platteville Grocery
$100,000
5
Summer House
$100,000
5
Micro loans
$100,000
Total
$700,000
'various stages of discussion
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