HomeMy WebLinkAboutResolution 1999 (10) A Resolution Relating to St. Croix County's Participation in the Wisconsin
Community Development Block Grant for Economic Development Program for
Prism Plastics, Inc.
RESOLUTION NO. 1 (r1 ( 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 Prism Plastics,
Inc. up to $100,000 in financing assistance; and
WHEREAS, the Department of Commerce will provide the financing assistance to
Prism Plastics, Inc. through a grant to St. Croix County, which in turn, will loan the funds
to Prism Plastics, Inc.; and
WHEREAS, the loan repayments from Prism Plastics, Inc. can be used by St.
Croix County to establish a local Revolving Loan Fund; and
WHEREAS, on June 17, 1997 St. Croix County adopted polices and procedures
guidelines relating to the future 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
WHEEAS, the funds from the Department of Commerce will be in the form of a
grant. frQ n,the, 9e artmertt 61 Commerce who does not require repayment of the grant per
the terrps and- conditi9ns,Q..f xgrrnt contract prepared by the Department of Commerce,
and ..r ra r __. ..:
WHEREAS,-the Administration Committee has reviewed the proposed project and
the benefits to'be g dtheieftom and, after a public meeting and due consideration, the
Administration ..Com„ltiee recommends that an application be submitted to the State of
Wisconsin•fOrtheLfollowing project: Loan to Prism Plastics, 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
Administration 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
Administration 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 costs.
Dated thisaa "day of June, 1999.
Offered by: Administration Committee
NEGATIVE AFFIR TIVE
L #'
STATE OF WISCONSIN
COUNTY OF ST. CROIX
1, Sue E. Nelson, SL Mk
County Chnk, 00 HEREBY CERTIFY that
the foregoktg Is a true and t 1 of
adopted by the Coutiq.,8oatd of Supervisors
F
eh* Mang hdd
Sue E. Nelson, St Croix County Clak