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HomeMy WebLinkAbout~Master - RISE Grant Application for ISU Research Park, Phase III RESOLUTION NO. 14-162 RESOLUTION APPROVING IMMEDIATE OPPORTUNITY RISE GRANT APPLICATION FOR THE IOWA STATE UNIVERSITY RESEARCH PARK CITY OF AMES,IOWA WHEREAS the Iowa State University Research Park is pursuing development of a parcel of property on South University Avenue and South Riverside Drive in Ames, Iowa, known as the Phase 3 Expansion of the Iowa State University Research Park; and, WHEREAS the Research Park continues to be a vibrant economic engine in Ames, Story County, and Central Iowa which provides opportunities for new and innovative companies that in turn provide quality jobs that enhance the economics of the entire state of Iowa; and, WHEREAS Stages A 1 and A2 of Phase 3 of the development proposal involve construction of streets and utilities to serve seven lots that vary in size; and, WHEREAS the Research Park has applied for annexation of this property to the City and the City Council has initiated the annexation process for this land; and, WHEREAS Stages Al and A2 of Phase 3 of the development proposal involve public and private investment of an estimated $31,363,709; and, WHEREAS as part of the development, the Iowa State University Research Park is requesting that the City submit an Immediate Opportunity RISE grant application to the Iowa Department of Transportation(IDOT)for Stages A 1 and A2 of Phase 3 for street construction within the project; and, WHEREAS WebFilings has established their international headquarters in Ames in the ISU Research Park; and, WHEREAS Stages Al and A2 of Phase 3 serve the expansion of WebFilings and the associated job commitment of 365 additional jobs within three years of the roadway being completed and opened to traffic; and, WHEREAS the State of Iowa has appropriated funding for the Research Park's new Hub Building in the amount of$12,000,000; and, WHEREAS the immediate opportunity RISE grant is essential to the continued expansion of WebFilings and to the construction of the Research Park's Hub Building; and, WHEREAS Stage A 1 of Phase 3 is the reconstruction of the intersection of Airport Road and University Boulevard with a roundabout and widening of University Boulevard adjacent to WebFilings; and, WHEREAS Stage A2 of Phase 3 is the extension of University Boulevard south to North Drive,the construction of North Drive to the Hub Loop,and the construction of the Hub Loop;and, WHEREAS the existing roadways involved in this project are currently dedicated to public use; and, WHEREAS all roadways to be constructed or improved by this project will be dedicated to public use; and, WHEREAS the proposed project cost for Stages Al and A2 of Phase 3 is estimated at $5,013,410, with the local match being 20% of the project total or$1,002,682; and, WHEREAS the City is currently negotiating a Development Agreement with the ISU Research Park,and will not sign an agreement with the IDOT for the RISE grant until an acceptable development agreement is finalized with the Research Park. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that the City Council endorses the project as described above; and, BE IT RESOLVED that the Mayor is directed to sign and the staff is directed to submit the Immediate Opportunity RISE grant application to the Iowa Department of Transportation; and, BE IT RESOLVED that the City of Ames will assume jurisdictional responsibility for the new and improved roadways funded by this grant, and that all such roadways will be adequately maintained by the City. ADOPTED this 1st day of April, 2014. Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Corrieri Seconded by: Betcher Voting aye: Betcher, Corrieri, Gartin, Goodman,Nelson, Orazem Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 1st day of April, 2014.