HomeMy WebLinkAbout2016-03 RESOLUTION 2016-03
Resolution Authorizing Participation in the
USDA Rural Business Development Grant.Program
WHEREAS, the USDA, through its Rural•Development Grant offers the Town of Pulaski an
opportunity to establish a revolving loan fund to provide incentives for property owners to repair or
replace poorly maintained roofs; and,
WHEREAS, such a program may be applied to commercial structures on Main Street many of which
have roofs in need of repair or replacement; and,
WHEREAS, the poor condition of such roofs results in the,loss of marketable locations for small
businesses, an increase in the presence of blight and decay on Main Street; and a threat to the
structural integrity of such buildings; and,
WHEREAS, funding the grant requires a 1:1 match of Town funds to federal funds for program
participation, a condition which the Town of Pulaski is willing to meet;
NOW, THERFORE be it RESOLVED by the Town Council of the Town of.Pulaski, Virginia, sitting in
regular session this 19th day of January 2016, that the Town staff is authorized to prepare the
documents necessary for submittal of the grant application in the amount of$75,000, and Upon a
notice of a favorable consideration of the Town's submission to USDA, authorizes a $75,000.match
be added, insuring that there will be a revolving loan fund of$150,000, to be made available to
qualified applicants following..the guidelines, policies and procedures summarized in the application
and program guidelines.
FURTHER RESOLVED that the Town Council authorizes the Town staff to execute allnecessary
documentation relevant to or required by the grant application.
This resolution is effective upon adoption and is hereby adopted by the duly recorded vote of the
Town Council of the Town of Pulaski, Virginia sitting in regular session this 19th day of January 2016
as follows:
Heather L. Steele -Aye H.M. Kidd -Aye
Gregory C. East -Aye James A. Radcliffe -Aye
David L. Clark -Aye Lane R. Penn -Aye
THE TOWN OF PULASKI, VIRGINIA
BY:
S. Worrell, Mayor
ATTEST:
Patricia Cruise, Clerk of Council