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Red Bud council approves application for up to $5 million Regional Site Readiness grant for business park infrastructure
Summary
The council authorized staff to apply for the Regional Site Readiness Phase 2 grant, which could provide up to $5,000,000 to support capital projects for the private business park (examples cited: electric substation, gas regulator station); council asked staff to begin letters of support and clarify required project components and local match.
The Red Bud City Council voted unanimously on Oct. 6 to authorize application for the Regional Site Readiness Phase 2 grant and to begin letters of support and preliminary planning.
City leaders described the grant as having two components — planning (already past in the city's view) and capital readiness — and said the capital component can provide up to $5,000,000. The mayor and staff discussed items that might qualify, including an electric substation and a gas regulator station to support a private business park. The mayor cited an illustrative local contribution of $1,000,000 in council discussion as an example of how the project might be priced.
Councilors asked staff to "get in the hopper" soon because the program accepts applications on a rolling basis until March 31 or until funds are exhausted. The motion to proceed was moved and seconded and approved by roll call.
Staff will prepare application materials and letters of support and return with more detailed project scopes and cost estimates if the council wishes to consider a local match or phased funding plan.
