City of Milwaukee - File #: 090235

• File #: 090235
• Version: 2
• Type: Resolution
• Status: Passed
• File created: 6/16/2009
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 10/13/2009
• Title: Substitute resolution approving a Grant Agreement and providing funding for improvements to 608 West Historic Mitchell Street in Tax Incremental District No. 71, Mitchell Street, in the 12th Aldermanic District.
• Sponsors: James N. Witkowiak
• Indexes: AGREEMENTS, REDEVELOPMENT AUTHORITY, TAX INCREMENTAL DISTRICTS

Date	Ver.	Action By	Action	Result	Tally
10/19/2009	2	MAYOR	SIGNED
10/13/2009	2	COMMON COUNCIL	ADOPTED	Pass	15:0
10/6/2009	2	CITY CLERK	DRAFT SUBMITTED
10/6/2009	2	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	5:0
10/6/2009	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	SUBSTITUTED; Minutes note: Individual appearing: Deshea Agee, Department of City Development Ald. Wade moves to accept Proposed Substitute A. Prevailed 5-0.	Pass	5:0
10/1/2009	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/28/2009	1	CITY CLERK	DRAFT SUBMITTED
6/16/2009	0	COMMON COUNCIL	ASSIGNED TO

Number

090235

Version

Substitute 2

Reference

071132

Sponsor

ALD. WITKOWIAK

Title

Substitute resolution approving a Grant Agreement and providing funding for improvements to 608 West Historic Mitchell Street in Tax Incremental District No. 71, Mitchell Street, in the 12th Aldermanic District.

Analysis

This resolution authorizes funding of a grant in the amount of $82,000 from TID 71 for façade replacement and upgrades to the HVAC system at the currently vacant restaurant property at 608 W. Historic Mitchell St.

Body

WHEREAS, the City and RACM have created Tax Incremental District No. 71 (Mitchell Street) ( “District”) with the adoption of their respective resolutions, No. 071132 and No. 9969.  The District consists of 281 properties located along, and generally one block north and south of W. Historic Mitchell Street between S. 5^th Street and S. 16^th Street, plus a commercial area south of W. Forest Home Ave. between S. 13^th Street and S. 15^th Street.  The District contains nearly 2.3 million s.f. of land area, excluding public rights-of-way, and encompasses the Historic Mitchell Street commercial district, including immediately adjacent residential areas, and parking lots which serve the retail business on the Street; and

WHEREAS, Funding provided by the Project Plan for the District totals $3,118,000 for the purposes of upgrading pedestrian lighting, installing median irrigation, security cameras, and tree grates, along with funds for grants or loans to assist with catalytic private development opportunities in the District;  and

WHEREAS, One of the catalytic projects proposed in the District is the restoration and renovation of the vacant restaurant at 608 W. Historic Mitchell St.; and

WHEREAS, renovations for this property are estimated to cost $164,000 and include replacing the entire façade, replacing the restaurants range hood, and upgrading the HVAC system; now, therefore, be it

RESOLVED, by the City of Milwaukee, that the Grant Agreement with the Redevelopment Authority, attached hereto, is hereby approved, and the proper City officers are authorized and directed to execute said Agreement and to provide a grant to the 608 W. Historic Mitchell St. project on terms set forth in the Term Sheet attached as Exhibit A; and, be it

FURTHER RESOLVED, that the City Comptroller is authorized and directed to establish such accounts and provide such funding from the Mitchell St. TID, as provided in the Grant Agreement.

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9/28/09