Staff recommends executing the Small Cities Community Development Block Grant (CDBG) contract to receive federal funding in the amount of $750,000 for the Magnolia Townhomes (aka Kristen Court) Project.
As part of the City’s vision to redevelop the Kristen Court Apartments into a for sale townhome development now known as Magnolia Townhomes, funding is needed to cover infrastructure costs. The apartment complex is in severe need of flood & drainage improvements, sewer line and water line replacement, new fire hydrants, and sidewalks. The City’s CDBG application ranked 6th out of 34 applications submitted Statewide. The funding will allow the City to move forward with bidding of the infrastructure improvements for Magnolia Townhomes.
Once the contract is executed by both parties, the City will have the authority to use the $750,000 CDBG funding for infrastructure improvements and contract administration.
1. Approve the contract to receive funding of $750,000 for infrastructure improvements at Magnolia Townhomes; or
2. Such alternative action as the Commission may deem appropriate.
The City has committed $250,000 to the subject project.
Prepared by: ______________________
Attachments: Yes____ No ______
Advertised: ____Not Required ______
Attorney Review : Yes___ No ____
Reviewed by: Dept. Head ________
Finance Dept. _______JB_________
Deputy C.M. ___________________
City Manager ___________________
Account No. _554-0000-331-5600___
Project No. ___________________
WF No. ______________________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO SIGN AN AGREEMENT AND EXECUTE REQUIRED FORMS TO RECEIVE FUNDING OF $750,000 FROM THE SMALL CITIES COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM FOR THE MAGNOLIA TOWNHOMES (AKA KRISTEN COURT PROJECT); AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:
THAT the Mayor and City Clerk are hereby authorized to execute an agreement with the Florida Small Cities Community Development Block Grant Program whose address is 2555 Shumard Oak Boulevard, Tallahassee, Florida 32399-2100 for funding of $750,000 to improve Magnolia Townhomes infrastructure.
THAT this resolution shall become effective immediately.
PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _26th ____ day of _May __ 2009.