R2022-205 Resolution Authorizing a Fiscal Sponsorship Agreement between the City of Decatur and T/CCI Manufacturing

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December 1, 2022 TO: Mayor Julie Moore Wolfe&Deca ur City Council Members FROM: Scot Wrighton, City Manager RE: Fiscal Agent Agreement with TCCI Earlier this year it was announced that Richland Community College and TCCI would be the recipient of a$15.3 million grant from the State of Illinois to construct a climate research facility to be used in connection with TCCI's plans to create and retain at least 150 jobs in Decatur, and to locally manufacture compressors for the electric vehicle industry.Separately,the city of Decatur received two State grants of$3 million each to reconstruct the manufacturing facility at TCCI's 22nd Street location.The city and Richland Community College are both in the midst of working with the Illinois Department of Commerce and Economic Opportunity(DCEO)to finalize the terms of local-state agreements for the management of these grants(these will be brought to the City Council at a later date).The city will serve as fiscal agent ONLY for the two $3 million industrial reconstruction grants. The pending local-state agreement requires that we have a separate and adopted agreement between the city and TCCI setting forth the terms and conditions for the city's management, accounting and disbursement of grant funds.The local fiscal agent agreement is patterned after ones used and approved by the State on other economic development projects that receive DCEO funds in support of a local business.The proposed fiscal agent agreement is for both of the$3 million grants combined. If approved by the City Council, it will become an attachment to the local-state agreement the council will consider in the future.