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LDC approves USD grant disbursement agreement; staff to obtain VIN signature for $440,000 award
Summary
The board approved authorizing VIN's signature on a USD grant/disbursement agreement for roughly $440,000 that was prepared in 2022; vote was unanimous on a voice vote.
The Local Development Corporation voted unanimously to authorize VIN's signature on a USD grant/disbursement agreement so the organization can accept roughly $440,000 in grant funds.
Board members said the paperwork arrived recently from the state and that the grant was written in 2022. A board member asked whether everyone had a chance to review the agreement; another responded that VIN's signature was required to "move forward and and get the grant dollars." The motion to authorize VIN's signature passed on a voice vote.
Why it matters: Executing the disbursement agreement will allow the LDC to receive grant proceeds the project team says were allocated in 2022. Staff noted the state moved at its own pace and the paperwork only recently reached the LDC.
Details from the meeting - Participants discussed the grant paperwork and confirmed VIN's signature was needed to proceed with drawdown of funds. One participant described the grant as having been "written in 2022." Another estimated the total at about $440,000. - On a motion moved and seconded (mover and seconder identified in the discussion as Bob and Lou), the board approved the authorization; the motion passed unanimously by voice vote.
Ending Staff will obtain VIN's signature and complete the required paperwork to accept the grant funds; the board did not identify additional conditions on the authorization.
