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I. EDA Grant Extension The Board reviewed the following memo dated 5/3/94: TO: The Honorable Members of the Board of County Commissioners FROM: Robert M. Keating, AICP 64K Community Development Director DATE: May 3, 1994 SUBJECT: EDA Grant Extension It is requested that the information herein presented be given formal consideration by the Board of County Commissioners at their regular meeting of May 10, 1994. DESCRIPTIONS & CONDITIONS In July, 1993, the U.S. Department of Commerce, Economic Development Administration (EDA) 'awarded the County.a $75,000 grant. This grant required a $25,000 match, bringing the total project budget to $100,000. At the time of -the grant award, it -was recognized that the amount of work involved (update of the commercial/industrial data source, preparation a of promotional brochure, preparation of an economic base study, development of a fiscal impact model, and preparation of an economic development strategy plan) would require more than the one year time frame of the grant. For that reason, EDA staff acknowledged at the beginning of the grant period that. the first year grant may require an extension. At that time, EDA staff also indicated.that a second year grant would probably be forthcoming. Recently, County staff met with EDA staff and discussed a possible extension of the existing grant as well as the possibility of receiving a second year grant. Not only did EDA concur with County staff's request for an extension of the existing grant, but also indicated that prospects were good for second year funding. In addition, EDA agreed with staff that purchasing existing fiscal impact software that can be customized, rather than developing a new model, would be more cost effective. As a result of its meeting with staff, EDA transmitted a proposed grant amendment to the County. A copy of that proposed amendment is attached to this agenda item. At this time, it is necessary for the Board to take action on the proposed amendment. ANALYSIS The proposed grant amendment to extend the existing EDA grant is not unexpected. In fact, such an extension was discussed at the time of the grant award. Making the extension even more necessary was a delay in hiring an Economic Development Planner. As proposed, the extension would correspond to revised timeframes for completing economic development activities. These timeframes and the extension were discussed by the County's Economic Development Council at its April meeting. At that time, the Council concurred with the proposed extension. 11 MAY 101994 BOOK 9J2,CIA r -.1;t 1181 I