June 23, 2019

City, LAIC apply for Commerce Dept. grant - Daily Leader Extra : Local News

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City, LAIC apply for Commerce Dept. grant

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Posted: Monday, May 6, 2019 3:14 pm

The Madison City Commission gave its approval in having the city join with the Lake Area Improvement Corporation to apply for a federal grant that will help fund infrastructure improvements in the Lakeview Industrial Park.

The city commissioners gave their approval on April 29 for Mayor Roy Lindsay to sign a letter of support for a federal grant from a public works program that is administered by the Economic Development Administration. The administration is part of the U.S. Department of Commerce.

To obtain the matching grant funding, LAIC officials have committed up to $630,000. In the city's letter of support, Madison has committed up to $2.705 million to obtain matching grant funding, making Madison a co-applicant for the grant.

LAIC and city officials are seeking funding to make infrastructure improvements if a proposed Tru Shrimp plant is constructed in the Lakeview Industrial Park. DGR Engineering of Rock Rapids, Iowa, provided an estimate for the proposed improvements that amounted to $6.67 million for construction of a new electrical substation and installation of electrical transmission lines, water and sanitary-sewer mains and other equipment.

Eric Fosheim, LAIC executive director, said Madison would receive assistance in its application efforts by its designation as an enterprise zone.

Lindsay said that Madison wasn't held at this time to any financial obligation regarding the application for a grant. If Tru Shrimp officials do not build a shrimp-raising facility in Madison, Lindsay said the city and LAIC are not liable for unspent grant funding.

Tru Shrimp, a Minnesota-based company, announced in January that it wanted to construct its first "harbor," a shrimp-raising facility, in Madison's southside industrial park.

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