NUMB:
981673
VERS:
SUBSTITUTE 1
REF:
XXBY:
ALD. HENNINGSEN
TITL:
Substitute resolution relative to application, acceptance and funding of an Economic Development Initiative Grant.
ANLS:
- Analysis -
This substitute resolution authorizes the City of Milwaukee to apply for, accept, and fund an Economic Development Initiative-Special Projects grant pursuant to the VA-HUD-Independent Agencies Appropriations Act of 1999 through the Department of Housing and Urban Development in the amount of $1,500,000. This substitute resolution also authorizes, as the alternative, the City to support a grant application by the Board of BID No. 2 should BID No. 2 so desire. These funds will be used for dockwall and other riverwalk enhancements for the Historic Third Ward Riverwalk Project. This substitute resolution also authorizes the preparation of an agreement between the City and the Board of BID No. 2 to implement the grant. The agreement would require approval of the Common Council.
BODY:
Whereas, The City of Milwaukee ("City") and/or the Board of Business Improvement District No. 2 ("BID No. 2"), appears to be eligible for grant funds from the U.S. Department of Housing and Urban Development ("HUD") for an Economic Development Initiative Grant; and
Whereas, The operation of this grant project from HUD to the City or BID No. 2 will cost $1,500,000 with 100 percent to be provided by the grantor; and
Whereas, Common Council File No. 870501, adopted October 6, 1987, created BID No. 2 and approved its initial Operating Plan; and
Whereas, Common Council File No. 970388, adopted September 23, 1997, created Tax Incremental District No. 34 ("TID No. 34"), Historic Third Ward Riverwalk, and adopted a Project Plan for said tax incremental district; and
Whereas, The City and the BID No. 2 Board entered into a Riverwalk Development Agreement for BID No. 2 (the "Development Agreement") dated as of June 23, 1998, as well as two subsequent amendments; and
Whereas, The City and the BID No. 2 Board desire to enter into an amendment to the Development Agreement in connection with this grant funding and governing the use of the grant for the project upon award of the grant by HUD; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that application to the U.S. Department of Housing and Urban Development is authorized and that the City of Milwaukee shall accept this grant without further approval unless the terms of the grant change as indicated in Common Council File No. 940843 (Grant Ordinance); and, be it
Further Resolved, That the City Comptroller is authorized to:
1. Commit funds within the Project/Grant Parent of the 1999 Special Revenue-Grant and Aid Projects Fund, the following amounts for the project titled Historic Third Ward Riverwalk Project:
Project/Grant: SP03290100
Fund: 0306
Organization: 9990
Program: 0001
By: 0000
Subclass: R999
Account: 000600
Project: Grantor Share
Amount: $1,500,000
2. Create the necessary Project and Project Level Values and budget to these project values the amounts required under the grant agreement.
3. Establish the necessary City Share Project Values; and, be it
Further Resolved, That these funds are budgeted for the Department of City Development which is authorized to:
1. Expend from the amount budgeted for specific purposes as indicated in the grant budget and incur costs consistent with the award date.
2. Enter into subcontracts and leases as detailed in the grant budget; and, be it
Further Resolved, That the Commissioner of the Department of City Development is authorized and directed to execute the grant application on behalf of the City; and, be it
Further Resolved, That as an alternative to direct City application for the HUD Grant and that in the event that BID No. 2 desires to apply directly to HUD for said grant, the City supports BID No. 2 in its application for said grant solely for its use in the development and construction of the Historic Third Ward Riverwalk; and, be it
Further Resolved, That the Commissioner of the Department of City Development is authorized and directed to prepare an agreement for approval of the Common Council, which includes the following conditions:
1. The grant funds shall be used solely for the development and construction of the Historic Third Ward Riverwalk.
2. No City funds currently authorized for the project under the following accounts may be used to repair or replace any dockwalls throughout the project:
Account No. 31-618-1015 - $680,000 Account No. 31-618-1601 - $110,000 Account No. 32-934-1000 - $250,000 Account No. 32-934-2001 - $2,316,400
Said funds are encumbered against the Riverwalk Development Agreement between the City and the Board of BID No. 2, Contract No. 98-081, as amended.
3. Use of the grant funds is subject to satisfaction of the requirements of the Riverwalk Development Agreement between the City and the Board of BID No. 2, Contract No. 98-081, as amended.
4. BID No. 2 is required to provide to the City an audit of the use and expenditure of the grant funds in a form satisfactory to the City Comptroller within one year of the completion of the riverwalk project.
5. Prior to the execution of any grant agreement with HUD, BID No. 2 is required to submit said grant agreement to the Commissioner of the Department of City Development for approval; and, be it
Further Resolved, That all City officials, departments, boards and commissions are authorized and directed to provide such assistance as is necessary to carry out the intent and purpose of this resolution.
ZDPT:
DFTR:
DCD/MJW/mjw
03/22/99