HomeMy WebLinkAboutResolutions 2000 (11) A Resolution Relating to St. Croix County's Participation in the Wisconsin
Community Development Block Grant for Economic Development Program for
POLY -CAM, Inc. /
RESOLUTION NO. 11 (aOa 1)
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 Poly -Cam, Inc.
up to $100,000 in financing assistance; and
WHEREAS, the Department of Commerce will provide the financing assistance
to Poly -Cam, Inc. through a grant to St. Croix County, which in turn, will loan the funds
to Poly -Cam, Inc.; and
WHEREAS, the loan repayments from POLY -CAM, Inc. can be used by St. Croix
County to capitalize its Business Revolving Loan Fund; and
WHEREAS, on March 21, 2000 St. Croix County adopted polices and
procedures guidelines relating to the administration of a Revolving Loan Fund
established with loan repayments from economic development grants to St. Croix
County; and
WHEREAS, the Department of Commerce will also provide St. Croix County
$6,000 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 POLY -CAM, 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 is hereby authorized
to sign all necessary documents on behalf of the County; and
BE IT FURTHER RESOLVED, that authority is hereby granted to the Chair of the
Finance Committee 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 Finance
Committee in filing the grant application and administering the grant for a fee not to
exceed the $6,000 provided by the Department of Commerce to cover administration
t
costs.
Dated this/ ( day of , 2000.
Offered by: Finance Commi't�ee
NEGATIVE AFFIRMATIVE
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STATE OP WISCONSIN
COUNTY OF ST. CROIX
1, Sue E. Nelson, St. Cro x
County Clerk, DO HEREBY CERTIFY that
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adopted by the County Board of upefvisors
at their meeting held !! (P
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Sue E. Nelson, St. Croix County Clerk