NUMB:
991037
VERS:
SUBSTITUTE 1
REF:
921480
XXBY:
ALD. D'AMATO
TITL:
Substitute resolution authorizing expenditures from the Neighborhood Commercial District Street Improvement Fund for streetscape improvements, in conjunction with Business Improvement District No. 20, on East North Avenue and various other streets between the Milwaukee River and North Prospect Avenue.
ANLS:
- Analysis -
This substitute resolution authorizes the transfer of $500,000 from the Neighborhood Commercial District Street Improvement Fund for streetscaping activities associated with Business Improvement District No. 20.
BODY:
Whereas, The 1999 Capital Budget for the City of Milwaukee ("City") contains $500,000 in the Neighborhood Commercial District Street Improvement Fund; and
Whereas, The purpose of this Capital account is to pay for streetscape improvements such as pedestrian lighting and other public way improvements along commercial streets; and
Whereas, The Common Council of the City of Milwaukee has adopted File No. 921480 which established guidelines for use of the Neighborhood Commercial District Street Improvement Fund; and
Whereas, The proposed project meets these guidelines; and
Whereas, Property owners petitioned for the creation of Business Improvement District No. 20 to raise funds to be used in conjunction with the City's Neighborhood Commercial District Street Improvement Fund; and
Whereas, Said Business Improvement District No. 20 has been approved by the Common Council of the City of Milwaukee; and
Whereas, The private funds will equal or exceed the amount of City funds for this project; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the City Comptroller is authorized and directed to transfer the sum of $500,000 from the Neighborhood Commercial District Street Improvement Fund to the appropriate borrowing account and expenditure accounts following the City Attorney's determination as to the taxability or nontaxability of the specific borrowing required under this resolution; and, be it
Further Resolved, That the City Comptroller, in conjunction with the Commissioner of the Department of City Development, is authorized and directed to establish any and all subaccounts in accord with generally accepted accounting practices and the City guidelines necessary to maintain the fiscal control to carry out the intent and purpose of this resolution, public way improvements associated with the Business Improvement District No. 20 streetscape project; and, be it
Further Resolved, That all City officials, departments, boards and commissions are authorized and directed to assist and cooperate with the project.
ZDPT:
DFTR:
DCD:RT:jan
10/26/99