SUBJECT
title
A Resolution of the City Council of the City of Laredo, Texas authorizing the City Manager to submit a grant pre-application in the amount not to exceed $1,000,000.00 to The Economic Development Administration (EDA) for the 2025 Economic and Infrastructure Development (EID) Grant Program to support facility improvements to El Mercado building for the purpose of creating economic development programs and projects. Grant has a 20% matching requirement not to exceed $200,000.00. This notice of funding opportunity is on a reimbursement basis.
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PREVIOUS COUNCIL ACTION
N/A
BACKGROUND
On March 3, 2025 the Economic Development Administration released a grant opportunity under the 2025 Economic and Infrastructure Development (EID) grant program. This cycle will fund projects that promote economic development in parts of Arizona, California, New Mexico, and Texas - with a focus on distressed counties, in order to revitalize and transform communities.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends approval of this item.
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N?: N
Source of Funds: Click or tap here to enter text.
Account #: Click or tap here to enter text.
Change Order: Exceeds 25% Y/N: Click or tap here to enter text.
FINANCIAL IMPACT:
No impact at the time of application.