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TO: Honorable Mayor and Members of the Common Council FROM: Sara Rutkowski, Community Development Director DATE: September 9, 2025 SUBJECT: Res 25-471 Approve 2025 budget amendment to Contractual Agreement Payments WEDC ($250,000)

BACKGROUND

In 2025 Council approved the 2025 Community Development Department Budget. After the approval, the City received the Community Development Investment Grant.

ANALYSIS

The approved 2025 Budget did not include the anticipated revenue from the grant. The proposed Budget amendment (attached) will accept revenue at $250,000, $249,500 of which will be expensed toward Corridor Development construction costs, and $500 will be kept as City administration fee.

FISCAL IMPACT

The Community Development Special Fund will administer the Community Development Investment (CDI) grant for the Corridor Development project.  The budget amendments allow the City to receive the revenue and remit funds to reimburse the developer for their costs.

RECOMMENDATION

Council approves a budget amendment to Contractual Agreement Payments WEDC for Community Development Investment Grant Program for the Corridor Development LLC.

Attachments Res 25-471

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