Title
RESOLUTION AUTHORIZING AN INTERFUND TRANSFER TO THE BROADBAND ENTERPRISE FUND IN THE AMOUNT OF $936,397 FROM TIF DISTRICT DECERTIFICATION FUNDS.
Body
CITY PROPOSAL:
WHEREAS, the Duluth City Council approved the City of Duluth’s Digital Access Plan on July 18, 2022 via resolution 22-0575R; and
WHEREAS, the Duluth city council authorized an application to the State of Minnesota
Department of Employment and Economic Development (DEED) Office of Broadband Development for a Broadband Development Grant in support of the Duluth Pilot Project in the Lincoln Park neighborhood on July 18, 2022 via resolution 22-0577R and on December 8th, 2022 received notice the project was not considered for funding; and
WHEREAS, funding for the City portion of the Duluth Lincoln Park Pilot Project includes $936,397 of TIF District decertification funds.
RESOLVED, that the proper city officials are hereby authorized to transfer $936,397 of TIF District decertification funds from 110-700-5700-50 to the broadband fund 537
Statement of Purpose
STATEMENT OF PURPOSE: The City of Duluth’s Digital Access Plan includes strategy for a broadband pilot project in Lincoln Park. The City has identified one-time funding sources for the pilot project including $936,397 of one-time TIF District decertification funds. The City received a refund from decertifying Districts 19 & 24. The one-time TIF refund has been earmarked to be used for the Lincoln Park broadband project. The City’s Digital Access Master Plan cites two independent speed test data sources demonstrating average speeds of 55Mbps/7Mbps, speeds considered underserved.