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KEY BANK PARKING LOT PURCHASE – CAPITAL GRANTS PROJECT CCAP 6545–GRANT DISBURSEMENT AGREEMENT RESOLUTION

↑Meetings/Resolutions/6-2016
Activeformal_resolutionongoingThe Village authorizes the Mayor to sign the Grant Disbursement Agreement with DASNY for a $125,000 capital grant for the Key Bank parking lot purchase and designates Trust and Agency Account T10,10 as the segregated account for fund acceptance and disbursement.
First seen
2016-03-14
Latest event
2016-03-14
adopted
Expires
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Resolution text

RESOLVED

  1. the Village Mayor is authorized to sign the GDA and any subsequent, directly related paperwork required by DASNY
  2. the Treasurer has designated Trust and Agency Account T10,10 to be the segregated account for fund acceptance and disbursement of grant funds
Show preamble — 5 WHEREAS clauses
  • WHEREAS, the Village of Red Hook has been awarded the capital project for $125,000 from NY state sources which is a 100% re-imbursement type grant
  • WHEREAS, the required paperwork has been filed by the Village of Red Hook with NYS Dormitory Authority (DASNY), the governing agency/funding source, and we now have the Grant Disbursement Agreement (GDA) and DASNY
  • WHEREAS, the Property has been purchased with previously approved bridge loan funding with Salisbury Bank for the sale price of $60,000 at 1.35 % interest
  • WHEREAS, DASNY is requested an update of the Questionnaire, Opinion of Counsel letter and completion of the GDA so the next step for released of funds can proceed
  • WHEREAS, the GDA instructs the Village to evidence that a segregated account will be established to accept funds and disburse funds related to the project

Lifecycle (1 event)

2016-03-14adoptedvote: unanimous
Authorize the Village Mayor to sign the Grant Disbursement Agreement with DASNY and designate segregated account for fund disbursement.
moved by Blundell · seconded by Trapp
Show text snapshot for this event
Resolved
  1. the Village Mayor is authorized to sign the GDA and any subsequent, directly related paperwork required by DASNY
  2. the Treasurer has designated Trust and Agency Account T10,10 to be the segregated account for fund acceptance and disbursement of grant funds
Whereas
  • WHEREAS, the Village of Red Hook has been awarded the capital project for $125,000 from NY state sources which is a 100% re-imbursement type grant
  • WHEREAS, the required paperwork has been filed by the Village of Red Hook with NYS Dormitory Authority (DASNY), the governing agency/funding source, and we now have the Grant Disbursement Agreement (GDA) and DASNY
  • WHEREAS, the Property has been purchased with previously approved bridge loan funding with Salisbury Bank for the sale price of $60,000 at 1.35 % interest
  • WHEREAS, DASNY is requested an update of the Questionnaire, Opinion of Counsel letter and completion of the GDA so the next step for released of funds can proceed
  • WHEREAS, the GDA instructs the Village to evidence that a segregated account will be established to accept funds and disburse funds related to the project
Subject key: key_bank_parking_lot_grant