Title
Technology Incubator Grant Application (NB)
Explanation
The U.S. Department of Commerce, Economic Development Administration (EDA) has invited the City to apply for a second grant to complete construction of the technology business incubator.
Fiscal Note
If awarded, the EDA grant will provide the additional $270,000 needed to finish the construction of the facility. No additional matching funds are required.
Recommendation
The City Commission: 1) authorize staff to develop the application to the U.S. Economic Development Administration for a grant in the amount of $270,000; 2) authorize the Mayor, City Manager and the Clerk of the Commission to execute the proper documents associated with the grant application; and 3) authorize the Mayor, City Manager and the Clerk of the Commission to execute the grant documents if the grant is awarded, subject to approval by the City Attorney as to form and legality.