Number
021222
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. HINES
Title
Substitute resolution approving a 2003 expenditure plan for the Economic Development Committee Fund.
Analysis
This resolution approves a 2003 expenditure plan for the Economic Development Committee Fund.
Body
Whereas, The adopted 2003 City Budget provides for $50,000 in the Economic Development Committee Fund (Account No. 0001-1310-S123-006300), an account to be used for Common Council initiatives related to economic development, and for travel related to economic development by members of the Common Council; and
Whereas, Under the present budget, it is necessary for the Common Council to adopt a spending plan for utilization of the Economic Development Committee Fund; and
Whereas, By Common Council File 981680, adopted March 23, 1999, the Economic Development Committee is charged with the development of a proposed annual budget for the Economic Development Committee Fund; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the proposed 2003 budget for the Economic Development Committee Fund, a copy of which is attached to this file, is approved as the 2003 expenditure plan for the Fund; and, be it
Further Resolved, That the Economic Development Committee is authorized to approve the use of these funds for the purposes specified within such expenditure plan, and may increase or decrease the expenditures within any of the major general categories by up to 20% without the necessity of receiving further Common Council approval, provided that combined expenditures in all categories total not more than the total budgeted amount; and, be it
Further Resolved, That the Department of City Development is authorized and directed to procure such items as are authorized by this spending plan so as to maximize the impact of the Economic Development Committee Fund, where appropriate, through the active solicitation of civic contributions such as, but not limited to, co-sponsorship of jointly funded activities, private fundraising, and negotiation and procurement of discounted or donated services or products from private individuals, groups or corporations. The Economic Development Committee shall be kept apprised of any such activities by the department.
Requestor
Drafter
12/9/02; lme
2003 Economic Development Committee Fund
Budget
Objective Activity/Description Amount
Networking/Education Travel and Training for Committee members: To fund out-of-town travel to solicit companies for expansion or relocation to Milwaukee, and to fund economic development training for Economic Development Committee members $15,000
Attract new employment and business investment Business Development: To pursue opportunities to attract new jobs, investment and economic development that might arise in 2003 $25,000
Encourage retention and value-added services to existing business and business improvement districts Meetings/Seminars/Web Resources With/For Business Owners and Managers: To bring together business owners with common interests, policy makers and economic development staff to discuss ways in which local government can assist them to become more successful. Funds may also be used to develop conferences or seminars to address the needs of businesses in Milwaukee $10,000
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