NUMB:
971303
VERS:
Substitute 1
REF:
XXBY:
ALD. HENNINGSEN
TITL:
Substitute resolution authorizing the execution of a Management Agreement between the City of Milwaukee and the Neighborhood Improvement Development Corporation and authorizing execution of an amendment to the Cooperation Agreement.
ANLS:
_____________________________________________
-Analysis-
This resolution approves and authorizes the City of Milwaukee to enter into a Management Agreement with the Neighborhood Development Corporation to continue the neighborhood preservation and neighborhood commercial development of the City and further authorizes and approves an Amended and Restated Cooperation Agreement for the Housing and Neighborhood Development Revolving Loan Program.
_____________________________________________
BODY:
Whereas, the purpose of the Neighborhood Development Improvement Corporation ("NIDC") is to further the neighborhood preservation and neighborhood commercial development of the City of Milwaukee ("City") and to promote and undertake community development activities; and
Whereas, the City, through its Department of City Development ("DCD"), has been engaged in neighborhood preservation and commercial revitalization of the City over a number of years and has developed staff with particular expertise in such activities and has resources from collateral programs, which it administers or is aware of, to provide financial assistance to business enterprises and residential property owners; and
Whereas, NIDC and the City have been engaged in a cooperative effort since the mid-1970's with the City providing management and administrative services to NIDC; and
Whereas, Such cooperative effort has also evidenced itself in the City choosing to have NIDC administer certain Community Development Block Grant ("CDBG") and other grant funds and various neighborhood revitalization programs as may be administered by the City of Milwaukee; and
Whereas, Continuation of such cooperative effort is to the mutual benefit of NIDC and the City in order to achieve the economic development and neighborhood preservation goals of each; and
Whereas, Common Council Resolution File No. 970782 authorized execution of a Cooperation Agreement for the Housing and Neighborhood Development Revolving Loan Program; and
Whereas, an Amended and Restated Cooperation Agreement for the Housing and Neighborhood Development Revolving Loan Program incorporating additional administrative procedures identified by the Office of the City Comptroller and the Community Development Block Grant Administration is attached to this Common Council File, now, therefore, be it
Resolved, that the Common Council of the City of Milwaukee approves and authorizes the proper City officials of the City of Milwaukee to enter into a Management Agreement between NIDC and the City, a copy of which is attached to this Common Council File, and, be it
Further Resolved, that the Common Council of the City of Milwaukee approves and authorizes the proper City officials of the City to enter into an Amended and Restated Cooperation Agreement for the Housing and Neighborhood Development Revolving Loan Program between NIDC and the City of Milwaukee, a copy of which is attached to this Common Council File.
ZDPT:
DFTR:
City Atty.
TOG:ksk
12/03/97
kkloso\NIDC-RES