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<br /> <br /> <br />To: Honorable Mayor Adams and City Council <br /> <br />From: Julie Feier, City Manager <br /> <br />Date: July 16, 2007 <br /> <br />Subject: City Manager’s Report <br /> <br /> <br /> <br />The Loop Trolley project was discussed at the June 6, 2007 Economic Development <br />Retail Sales Tax Board meeting and on June 12, 2007, at the Loop Special Business <br />District meeting. The $1.2 million federal STP Enhancement Grant for the Loop Trolley <br />project requires $300,000 in matching funds committed by August of this year or the <br />grant will be lost. The City of St. Louis committed $50,000, leaving $250,000 needed. <br /> <br />The Prop U Citizens Committee earmarked $200,000 in their initial 5 year proposal. At <br />a recent Economic Development Retail Sales Tax Board members unanimously voted <br />to request that the City Council provide the additional $50,000 in funding to the project. <br />The $250,000 in funds would be generated from the quarter cent retail sales tax <br />earmarked specifically for economic development. <br /> <br />The Loop Special Business District has forwarded a letter of support for the fixed-track <br />vintage trolley system. They believe it can be built in a first-class manner adding to <br />quality of life, increased tourism and spurred economic development. <br /> <br />With Council’s authorization I will draft a letter of commitment to the funding agency. <br />I-1-a <br />July 16, 2007 <br /> <br />