Item B: West Broadway Project - Laserfiche WebLink

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Director shall bring terms to be included in agreements with Beam and KWG for approval. Vote: Passed 6:2 (Bettman, Taylor opposed). Memo – October 3, 2007: Staff memo regarding “COUNCIL ASSIGNMENT RESPONSE: WEST BROADWAY ADVISORY COMMITTEE AND OPTION RENEWAL EXPENDITURES.” Memo – October 24, 2007: Staff memo regarding“WEST BROADWAY PURCHASE OPTIONS UPDATE.” Election – November 6, 2007: Urban renewal plan amendment ballot measure 20-134 was defeated by a vote of 36% yes to 64% no. Memo – November 13, 2007: Memo from City Manager Pro Tem providing an update on West Broadway project and Beam and KWG in light of the failed ballot measure. 2. Brownfield Economic Development Initiative (BEDI) Grant IGR – May 16, 2005: Memo to Intergovernmental Relations Committee (IGR) explaining the Brownfield Economic Development (BEDI) grant and intended use for downtown development projects within the two urban renewal districts. IGR – May 26, 2005: IGR considered the BEDI Grant application submission, and it was unani- mously approved. Anticipated projects for the grant could include the Sears Site for ORI, redevelopment of vacant properties along West Broadway, and targeted redevelopment in the federal courthouse area. June 2005: ?Application submitted. January 2006: ? City received award notice for a $2 million BEDI Grant to assist redevelopment projects within the City's Downtown and Riverfront urban renewal districts. BEDI funds must be used in conjunction with, and for projects financed by, a HUD Section 108 guaranteed loan commitment. Memo – February 1, 2006: Staff memo regarding “Council Assignment Response: Recently-Award- ed Brownfield Grant.” Memo – August 2, 2007: Staff memo regarding “Clarification – Brownfield Economic Development Initiative Grant” in response to questions raised at the July 23 council meeting. 3. HUD Section 108 Loan Guarantee Program (Section 108) CDBG-AC – February 1 & March 1, 2006: In accordance with application requirements, the City’s Community Development Block Grant Advisory Committee (CDBG-AC) held two public hearings regarding the Section 108 loan proposal. Opportunity for public comment was also made available during a 30-day written public comment period. On March 1, 2006, the CDBG-AC unanimously recommended submittal of the proposed $7,895,000 Section 108 application to HUD, with funding of future projects to be reviewed by the CDBG Advisory Committee and the City Council.