From
Marty Wieder, Economic Development Director
Title
Resolution in support of United States Department of Commerce Economic Development Administration Grant Application for the Deceleration Lane, Bridge and Parking associated with EpicCentral Hotel, Conference Center and Retail/Restaurant Development
Presenter
Marty Wieder, Economic Development Director
Recommended Action
Approve
Analysis
The CARES Act allocated additional funds toward the U.S. Department of Commerce Economic Development Administration grants program to assist communities with being sustainable and responsive to COVID-19 and potential future pandemics. The City of Grand Prairie recognizes that future hospitality and retail jobs associated with the EpicCentral hotel and conference center - and across the street from associated student training programs at the GPISD Dubiski Career High School - are restrained and delayed as a result of a delay to this project, originally slated to begin this summer. Major public works and infrastructure improvements are necessary to foster the start of the EpicCentral hotel and conference center totaling $14.5 million. Moreover, because of previous bond sales the City is in the position to match at 20%, as preferred by the Economic Development Administration. Therefore, staff is recommending Council support of the resolution endorsing this grant application.
Financial Consideration
Total Project Cost - $14,500,000
Projected City Match - $2,900,000 (20%)
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, IN SUPPORT OF U.S. DEPARTMENT OF COMMERCE ECONOMIC DEVELOPMENT ADMINISTRATION GRANT APPLICATION FOR FRONTAGE ROAD DECELERATION LANE, BRIDGE AND PARKING FOR EPICCENTRAL HOTEL, CONFERENCE CENTER AND RESTAURANT/RETAIL DEVELOPMENT
Whereas, the CARES Act allocated additional funds toward the U.S. Department of Commerce Economic Development Administration grants program to assist communities with being sustainable and responsive to COVID-19 and...
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