AGENDA BILL APPROVAL FORM

 
Agenda Subject:
Resolution No. 5415 (Hinman) 		Date:
March 18, 2019
Department:
Administration 		Attachments:
Resolution 5415
Economic Development Partnership Agreement Between the Port of Seattle and City of Auburn
Budget Impact:
Current Budget: $0
Proposed Revision: $0
Revised Budget: $0
Administrative Recommendation:
Adoption of Resolution No. 5415 authorizing the Mayor to enter into an agreement with the Port of Seattle for grant funds in the amount of $65,000.00
Background for Motion:
Background Summary:

The Port of Seattle has authorized a 3rd round of grant funding for an Economic Development Partnership Program. More than $962,000 is available to cities in King County as 2 to 1 matching funds. The grant funds are available on a $1.00 per capita ratio with a maximum of $65,000.00. As part of the program Cities receiving funding from the Port of Seattle are required to match $0.50 on the dollar of Port grant monies, equating to $32,500.00 for the City of Auburn.

 

The City of Auburn participated in the first and second rounds of the partnership programs where, among other things the City established and opened up a Business Incubator located in the Auburn Transit Station.
Reviewed by Council Committees:
Councilmember: Staff: Hinman
Meeting Date: April 1, 2019 Item Number: RES.A