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Council members press for more documentation as $5 million match, safety history raise concerns
Summary
Councilmembers said the application packet was vague about finances, that the applicant’s absence was troubling for a $5 million match request, and raised allegations of prior safety issues that staff said would be best answered by a company representative.
Councilmembers said they were uncomfortable approving authorization to apply for the CRISI grant without fuller documentation and a company representative to answer questions. Councilman Peterson said, "the word vague comes to mind," and noted the applicant was not present; several members questioned whether the $5,000,000 match had credible backing in the materials provided to staff.
Staff said the applicant provided a bank letter showing a balance greater than $5,000,000 on a single day but not proof of an escrow or letter of credit, and that CRISI grants are reimbursement-based, meaning matching funds are expended as costs are incurred. "They provided us with a letter from their bank saying their bank balance on that day was greater than $5,000,000," City Administrator Jody Sanders said. Council members asked staff to seek stronger assurances if the city were to proceed.
