HomeMy WebLinkAboutResolutions 2003 (48) t f
A Resolution Relating to St. Croix County's Participation in the Wisconsin
Community Development Block Grant for Economic Development Program for
Haase Dairy, Inc. ll
RESOLUTION NO. `7" 6 C 66.3
St. Croix County, Wisconsin
WHEREAS, Federal monies are available under the Wisconsin Community
Development Block Grant program, administered by the State of Wisconsin, Department
of Commerce, for the purpose of economic development; and
WHEREAS, the Department of Commerce has offered to provide Haase Dairy,
Inc. $100,000 in financing assistance; and
WHEREAS, the Department of Commerce will provide the financing assistance to
Haase Dairy, Inc. through a grant to St. Croix County, which in turn, will loan the funds to
Haase Dairy, Inc.; and
WHEREAS, the loan repayments from Haase Dairy, Inc. can be used by St. Croix
County to capitalize its Business Revolving Loan Fund; and
WHEREAS, the Department of Commerce will also provide St. Croix County
$5,000 of grant funds to cover administration costs associated with the grant; and
WHEREAS, the funds from the Department of Commerce will be in the form of a
grant from the Department of Commerce who does not require repayment of the grant per
the terms and conditions of a grant contract prepared by the Department of Commerce,
and
WHEREAS, the Department of Commerce has reviewed the proposed project and
the benefits to be gained therefrom and, after public meeting, the Finance Committee
recommends that an application be submitted to the State of Wisconsin for the following
project:: Loan to Haase Dairy, Inc.: and
WHEREAS, it is necessary for the County Board to approve the preparation and
filing of an application for the County to receive funds from this program; and
THEREFORE, BE IT RESOLVED, that the St. Croix County Board of Supervisors
does approve and authorize the preparation and filing of an application for the above -
named project; and
BE IT FURTHER RESOLVED, that the County Board Chair and Clerk are hereby
authorized to sign all necessary documents on behalf of the County; and
BE IT FURTHER RESOLVED, that authority is hereby granted to the
Administrative Coordinator to take the necessary steps to prepare and file the appropriate
application for funds under this program in accordance with this resolution.
BE IT FURTHER RESOLVED, that St. Croix County will contract with the West
Central Wisconsin Regional Planning Commission (WCWRPC) to assist the County in
filing the grant application and administering the grant for a fee not to exceed the $5,000
provided by the Department of Commerce to cover administration costs.
Dated this AS : Clay of i nib - er, 2003.
Offered by: Finance Committee
NEGATIVE AFFIRMATIVE
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Reviewed by Corporation Counsel on 11 f 0(7(03
Gre Timmerman
This resolution was duly adopted by the St. Croix County
Board of Supervisors on November 25, 2003.
e 6
Cindy Campbell, County Clerk
St. Croix County
Community Development Block Grant (CDBG)
Economic Development Application
The Wisconsin Department of Commerce (Commerce) has established a Milk Volume
Production Program using federally funded Community Development Block Grants
(CDBG). Commerce developed this program to assist Wisconsin dairy producers who
are making capital improvements that make significant increases in Wisconsin's milk
production. Commerce established the Milk Volume Production Program because
Wisconsin is losing its competitiveness in dairy markets. Wisconsin has lost 177 million
pounds of milk over the last 5 years while many other states saw significant increases
(California +7,390 million pounds). Wisconsin milk processors have to go outside the
state for 14% of their milk supply and we risk losing more processors. Commerce will
provide up to $500 per cow added to each operation with a maximum of $lmillion per
operation.
Commerce made a preliminary $100,000 loan commitment to Haase Dairy, Inc. in the
Town of Somerset for the purchase of 200 cows. Haase will invest at least $1.5 million
to expand the dairy and will create at least 4 new jobs.
Commerce has asked St. Croix County to be the applicant for the $105,000 grant. The
County will loan $100,000 of the grant funds to the business. The County can retain the
loan payments to capitalize the St. Croix County Business Loan Fund for area businesses.
The County will collect approximately $105,270 over a 7 year period.
Loan Terms and Conditions
Loan Amount: $100,000
Interest Rate: 2%
Term: 7 years
Security: Subordinate position Farm Security Agreement on
all assets now owned or hereinafter acquired.
Guaranty: William Haase, Opal Haase, Jered Haase, and
Jason Haase
Herd Maintenance: Maintain a 375 cow herd through 2006.
Action Requested
• Resolution to Submit CDBG Application
Authorizes the County Board Chair to sign the necessary documents to submit
the application
• Approve a $5,000 contract with the West Central Wisconsin Regional Planning
Commission for grant administration
The grant provides $5, 000 for grant administration
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FILE COPY
ST. CROIX COUNTY
WISCONSIN
• . '1. t k OFFICE OF COUNTY CLERK
•^N�"" ' y ST. CROIX COUNTY GOVERNMENT CENTER
_ l � i 1101 Carmichael Road
,. 1 ` , 14) M' `' - Hudson, WI 54016 -7710
wM rte. ^ . .- -- ""_`'-
Phone: (715) 386 -4610 Fax (715) 381 -4400
web site: httb :/ /www.co.saint- croix.wi.us/
December 5, 2003
Ann Raid
800 Wisconsin Street
Mail Box 9, Suite D2 -401
Eau Claire, WI 54703 -3606
Re: CDBG — Haase Dairy, Inc.
Dear Ms. Raid:
Enclosed for your records is a certified copy of the Resolution Relating to St. Croix County's
Participation in the Wisconsin Community Development Block Grant for Economic
Development Program for Haase Dairy, Inc. This resolution was adopted by the St. Croix
County Board on November 25, 2003.
Sincerely,
St. Croix County
Cindy Campbell
County Clerk
Enclosure
c: Bill Rubin w /enclosure