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Alamo approves EDA grant resolution to fund commercial-retail infrastructure; city to provide $400,000 match
Summary
The commission approved Resolution No. 39-12-25 to apply with the Alamo EDC for an Economic Development Administration public-works grant; staff said the project needs a $400,000 local match, the city has invested $6,000,000 in the property and the EDA cap of $2,000,000 covers the request.
Staff presented Resolution No. 39-12-25 authorizing partnership with the Alamo Economic Development Corporation to submit an Economic Development Administration public works and economic adjustment assistance application for commercial-retail infrastructure. The city manager said the project budget is about $1.6 million with contingency and engineering costs built in, and that the EDA program was capped for this solicitation at $2,000,000—the stated amount the city was seeking.
Staff said the city has already invested $6,000,000 in the property and will provide a $400,000 local match as part of the application. The city manager also said staff had collected multiple letters of support to attach to the application from federal, state and local officials. Council approved the resolution by voice vote and staff said they will submit the application no later than the end of the week and expect an award decision in roughly three months (around March), barring federal shutdowns or other delays.
Quote: "The city already invested 6,000,000 on the property, and we're asking for federal [assistance] to get this property done," the city manager said.
What happens next: Staff will finalize narratives, attach letters of support and submit the application to EDA by the stated deadline; the council should expect a report on application status within the next quarter.
