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<br />Summary: TGLDC, LLC (an entity of Hillcrest Development, LLLP) is the new owner of the <br />former Micom site off of Old Highway 8 and 5th St NW. The site has <br />considerable environmental challenges to overcome, so TGLDC sought to <br />partner with the City of New Brighton in late 2019 to seek environmental <br />assistance grants from the MN Department of Employment and Economic <br />Development (DEED), the Metropolitan Council Tax Base Revitalization <br />Account, and the Ramsey County Environmental Response Fund. This action <br />would accept funds from the Ramsey County Environmental Response Fund <br />and authorize the Mayor to execute the grant agreement. <br />In addition to the ERF Grant agreement, you will also find attached to this <br />summary a subgrant agreement for TGLDC, LLC (prepared by the City Attorney). <br />The subgrant agreement stipulates the terms of the grant dollars for the new <br />owners, and protects the City in this process as they are assuming all City <br />responsibilies. <br />Approval of this resolution is subject to attorneys from all sides agreeing on <br />final language of these agreements. Should any provisions be changed that <br />substantially altesr the agreement, requires City participation in funding, or <br />(in general) concerns the City Attorney; the matter will be returned to Council <br />for further review and consideration. <br /> <br />Attachments: 1) A Resolution Accepting two Environmental Response Fund Grants from Ramsy <br />County, and Autorizing the Mayor to a Execute Grant Agreement <br />2) ERF Grant Agreement <br />3) Subgrant Agreement for TGLDC, LLC prepared by the City Attorney <br /> <br /> <br /> <br /> <br /> <br />________________________ <br />Ben Gozola, AICP <br />Assistant Director of Community Assets and Development <br /> <br />