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| DATE:
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11/21/2017 7:00:00 PM |
| SUBJECT: |
| Council Consideration of a Resolution Authorizing the Submission of an Application to the Wyoming Business Council Under the Business Ready Community Grant and Loan Program for a Community Readiness Project on Behalf of the Governing Body of the City of Gillette, Wyoming, for the Purpose of the City of Gillette Fiber Improvement Project. |
| BACKGROUND: |
In an effort to secure additional funding sources, staff supports a grant application to the Wyoming Business Council to fund 80% of the eligible costs for the City's Fiber Improvement Project. A full copy of the City's grant application will be available for review from the City's Finance Department after November 27. Attached are copies of Letters of Support the City has received to date for this grant application.
Enclosed separately is a copy of the Resolution for Council approval. The signed Resolution will accompany the grant application. Staff supports the Resolution. |
| ACTUAL COST VS. BUDGET: |
The grant request will be in the amount of $1,332,256.00, representing eighty percent (80%) of the project.
The City of Gillette will provide the matching funds of $333,064.00, representing the remaining twenty percent (20%) of the project. The matching funds will come from a portion of the City's Optional 1% Sales Tax Revenue that has been earmarked for the Power Fund as part of the FY 18/19 budget. |
| SUGGESTED MOTION: |
| I move to approve a Resolution Authorizing the Submission of an Application to the Wyoming Business Council Under the Business Ready Community Grant and Loan Program for a Community Readiness Project on Behalf of the Governing Body of the City of Gillette, Wyoming, for the Purpose of the City of Gillette Fiber Improvement Project. |
| STAFF REFERENCE: |
| Michael H. Cole, P.E., Utilities Director |
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