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Committee authorizes seeking WEDC Brownfield grant for MBX property
Summary
The committee voted to move forward with an application for a Wisconsin Economic Development Corporation Brownfield grant for remediation of the MBX property; staff noted the grant is currently a favorable 1:1 match.
The finance committee approved moving forward with a Wisconsin Economic Development Corporation (WEDC) Brownfield grant application for the MBX property. Staff noted the grant program in this case is favorable because it currently offers a 1:1 match—uncommon compared with more typical 3:1 or 4:1 matches—and that additional environmental testing and demolition work will be required before remediation can proceed.
Committee members asked whether approval of the grant would obligate the city to accept funds and the associated cleanup costs; staff responded that acceptance of any awarded grant would proceed through the normal finance and council acceptance processes, and the committee would have the option to decline funds if terms were unfavorable. The motion to move the grant application forward was approved by voice vote.
