Number
191416
Version
ORIGINAL
Reference
Sponsor
ALD. BAUMAN
Title
Resolution authorizing the reappropriation of $175,000 from the Neighborhood Commercial District Street Improvement Fund and $175,000 from the Business Improvement District Fund for street enhancement activities along Near West Side’s commercial corridors in Business Improvement District No. 10 (Near West Side), in the 4th Aldermanic District.
Analysis
This resolution reappropriates funds designated for street enhancement activities along Kinnickinnic Avenue in Business Improvement District No. 44 (“BID No. 44”), now terminated, to streetscape enhancement activities for Near West Side Business Improvement District No. 10 (“BID No. 10”) in the Near West Side’s commercial corridors generally bounded by: Wisconsin Avenue (20th-38th), Clybourn Street (24th-27th), State Street (24th-27th), 27th Street (Saint Paul-State Street) and, 35th Street (Park Hill-Highland) from the Neighborhood Commercial District Street Improvement Fund and Business Improvement District Fund capital accounts.
Body
Whereas, The Common Council of the City of Milwaukee (“Common Council”) in 2013 approved a streetscape enhancement plan and funding for BID No. 44 with Common Council File No. 130394 utilizing $175,000 in the Neighborhood Commercial District Street Improvement Fund and $175,000 in the Business Improvement District Fund; and
Whereas, BID No. 44 did not implement the streetscape plan that was approved, expended any of the funds from either capital account, and BID No. 44 was terminated in 2018 with Common Council File No. 180140; and
Whereas, The original borrowing authority for the previously approved project is still available for use on a different streetscaping enhancement project proposed by BID No. 10; and
Whereas, A Term Sheet for said streetscaping enhancement project, a copy of which is attached to this Common Council File, has been prepared with the participation of the BID No. 10 Board and City departments; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the proper City officials are directed to draft and sign an Agreement, which is consistent with the terms and conditions of said Term Sheet and is mutually acceptable to the City Attorney, the Commissioner of the Department of City Development (“DCD”) and BID No. 10; and, be it
Further Resolved, That the City Comptroller is directed to transfer $175,000 from the Neighborhood Commercial District Street Improvement Fund project account “South KK BID 44 Streetscape” (0339-1910-ST04085000) to a new Project Account for BID No. 10 Streetscape and $175,000 from the Business Improvement District Fund project “South KK Streetscaping BID 44” (0339-1910-UR04184302) to a new Project Account for BID No. 10 Streetscape; and, be it
Further Resolved, That the City Comptroller, in conjunction with the Commissioner of DCD, is directed to establish any and all subaccounts in accordance with accepted accounting practices and the City guidelines necessary to maintain the fiscal control to carry out the intent and purpose of this resolution; and, be it
Further Resolved, That all City officials, departments, boards and commissions are directed to assist and cooperate with said project.
Drafter
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12/17/19/A
TECHNICAL CORRECTION -- JAMES R. OWCZARSKI -- January 17, 2020