Title
Resolution to Approve a Grant Agreement with Ann Arbor-Ypsilanti Local Development Authority for the Fiber Optic & Conduit Installation in the DDA District ($5,000,000.00)
Memorandum
The Ann Arbor-Ypsilanti Local Development Authority (LDFA) adopted a strategic plan in 2018, which included objectives to: encourage & support Smart-City initiatives, assist in establishment of reliable/affordable internet access, and support company creation/growth/viability. In 2019, city staff applied for a grant from the LDFA to install conduit, fiber optic cable, and related technology infrastructure in the downtown district. The grant was approved by the LDFA for up to $5 million for design, engineering, and construction. The city will own the infrastructure and connect it to its existing fiber optic network. The installation footprint is equivalent to the Downtown Development Authority District, which is consistent with the guidelines established by the Michigan Economic Development Corporation who oversees the funding.
The attached Grant Agreement establishes how the grant (an amount up to $5,000,000.00) will be administered. Because the LDFA does not have all of this funding available in its fund balance, the grant is structured to expend monies on the project as funds become available, depending on the priority of this project versus other opportunities. The LDFA board approved the grant agreement at their January 23, 2020 meeting.
Staff recommends approving the attached grant agreement.
Staff
Prepared by: Tom Crawford, Financial Services Area Administrator and CFO
Reviewed by: Betsy Blake, Senior Assistant City Attorney
Approved by: Tom Crawford, Interim City Administrator
Body
Whereas, The City is part of the Ann Arbor-Ypsilanti SmartZone (SmartZone), a local development finance authority, and appoints members to its board;
Whereas, The SmartZone completed a strategic planning process in 2018 identifying strategic goals for the use of their funding, ...
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