ITEM TITLE:
#25-39 - Authorizing the Submission of a Grant Application to the US Department of Transportation Port Infrastructure Development Program (PIDP) Requesting $4,000,000 in Grant Funds and Authorizing up to 25% in Local Matching Grant Funds up to the Amount of $1,250,000 for the Port of Valdez Improvement Plan
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: Up to $1,250,000
Unencumbered Balance: TBD
Funding Source: Capital Projects Planning Reserve or Fund Balance
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
Resolution 25-22 was approved in April to authorize the submission of a Port Infrastructure Development (PIDP) planning grant. The grant deadline was extended and upon consultation it was recommended to increase the local match to above 20% to present a more competitive proposal, if financially feasible. The attached resolution increases the match limit and authorizes the City Manager to submit the grant and execute pertinent forms.