Number
071344
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. ZIELINSKI
Title
Substitute resolution relating to the allocation of Community Development Block Grant reprogramming funds for the Avalon Theater Project.
Analysis
This resolution provides that when Community Development Block Grant reprogramming funds become available, the Avalon Theater Project shall be awarded $175,000 through the Southside Organizing Committee to preserve and restore existing architectural elements of the 79-year-old Avalon Theater building located at 2469-2483 South Kinnickinnic Avenue.
Body
Whereas, Community Development Block Grant reprogramming funds become available each spring for allocation; and
Whereas, A major objective of Community Development Block Grant funding is economic development stimulus; and
Whereas, The Avalon Theater Project will preserve and restore the existing architectural elements of the 79-year-old Avalon Theater building located at 2469-2483 South Kinnickinnic Avenue, including additional conversions to the building of movie screens, a restaurant and a 20-room boutique hotel; and
Whereas, The Avalon Theater Project will lead to the creation of 60 jobs, increase property valuation and taxes for the premises, provide a major boost to economic development along Kinnickinnic Avenue, and therefore merits award of reprogramming funds; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that when Community Development Block Grant reprogramming funds become available later in 2008 for allocation, the Avalon Theater Project shall be awarded $175,000 through the Southside Organizing Committee.
Requestor
Drafter
LRB08025-2
AEH
1/18/2008