Item Coversheet

BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT

Item No. 6.G.
For Meeting of: July 5, 2022

ITEM TITLE:Resolution authorizing the City of Yakima to participate in a SIED application on behalf of the Yakima First Partners, LLC for a project at South 1st Street and Russell Lane
SUBMITTED BY:

Joan Davenport, Community Development Director

Bill Preston, City Engineer

 

SUMMARY EXPLANATION:
The City of Yakima has been requested to authorize an application with the Supporting Infrastructure for Economic Development (SIED) program  to fund an improvement to the existing street intersection of South 1st Street and Russell Lane. There is an existing traffic signal at this intersection. Russell Lane will be re-aligned to  utilize this existing signal. This project will open up about 5 acres of commercial property and make more efficient use of our street network. The private party will pay the local match and is responsible for the loan repayments. The project is requesting $416,000 in grant, $416,000 in loan and $168,000 in local match. 
ITEM BUDGETED:NA
STRATEGIC PRIORITY:Partnership Development
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
Adopt Resolution
ATTACHMENTS:
DescriptionUpload DateType
Resolution Authorizing City to Support SIED Application for YFP ,LLCr 6/30/2022Resolution
SIED application6/30/2022Cover Memo