Number
211742
Version
ORIGINAL
Reference
Sponsor
ALD. PEREZ
Title
Resolution relative to the acceptance and expenditure of a Transportation Economic Assistance Grant from the Wisconsin Department of Transportation and authorizing the appropriate City officials to execute agreements related thereto.
Analysis
This resolution authorizes the Department of City Development and the City of Milwaukee, to accept, expend, and execute all documentation necessary to secure the Transportation Economic Assistance Grant from the WisDOT in the amount of up to $1,000,000. The purpose of the program is to assist in the reconstruction of a portion of Kinnickinnic Avenue, as part of the Komatsu Mining Corp. development project located at 311 East Greenfield Ave.
Body
Whereas, The State of Wisconsin Legislature has established the Transportation Economic Assistance ("TEA") Program and has appropriated funds to help support business development in the state by funding transportation improvements that are needed to secure jobs in the state; and
Whereas, The City of Milwaukee (“City”) has applied and received preliminary approval of an up to $1,000,000.00 TEA Program grant for a portion of the cost to reconstruct a portion of Kinnickinnic Avenue to assist the Komatsu Mining Corp. ("Komatsu") project located at 311 East Greenfield Avenue (hereinafter the "Transportation Facility Improvements"); and
Whereas, A TEA Program grant requires a 50 percent match that will be provided by Komatsu; and
Whereas, In order to secure the TEA grant, it is necessary to provide for City execution of the documentation required by the TEA Program; and
Whereas, The City will receive from the Wisconsin Department of Transportation a Transportation Economic Assistance Agreement-State Municipal Agreement for the construction of the Transportation Facility Improvements to serve Komatsu; and
Whereas, Copies of the Transportation Economic Assistance Agreement-State Municipal Agreement and a Par...
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