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Finance committee forwards 90/10 AEDC grant to prepare South Elmyra industrial site; city share ~$26,394
Summary
Council committee advanced a resolution to accept a 90/10 Arkansas Economic Development Commission grant to develop an industrial parcel on South Elmyra Avenue. The city would provide a 10% match, reported as approximately $26,394, to clear and prep the site for potential industrial tenants.
The Russellville City Finance Committee voted April 7 to forward to the full City Council a resolution authorizing the mayor and city clerk/treasurer to execute a 90/10 matching grant agreement with the Arkansas Economic Development Commission to develop an industrial site on South Elmyra Avenue.
According to staff remarks during the meeting, the total project grant portion was reported at about $237,537 with the city’s 10% match noted at roughly $26,394. Staff described the work as site cleanup — stumping, burning, grading and preparing the soil and surface to attract industry. The mayor said the city has had “some tire kickers” already expressing interest in the parcel.
Committee members asked clarifying questions about the budget numbers and scope. Staff said the grant has been in development with the chamber and economic partners and that the appropriation for the city’s portion would come from existing reserves. The committee moved and seconded the item and forwarded it to the full council with a recommendation of approval; specific roll-call counts were not recorded in the committee transcript.
If approved by the council, staff said the intent is to prepare the lot to be market-ready and to solicit prospective industrial tenants. The matter will appear on the full council agenda for formal action.
