City of Milwaukee - File #: 041749

• File #: 041749
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 4/12/2005
• In control: COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE
• Final action: 5/3/2005
• Title: Substitute resolution authorizing the transfer and expenditure of $150,000 from the Development Fund for the Business Improvement District Commercial and Economic Development Fund.
• Sponsors: ALD. DAVIS, ALD. HINES JR.
• Indexes: BUSINESS IMPROVEMENT DISTRICTS, DEVELOPMENT FUND, ECONOMIC DEVELOPMENT

Date	Ver.	Action By	Action	Result	Tally
5/12/2005	1	MAYOR	SIGNED
5/3/2005	1	COMMON COUNCIL	ADOPTED	Pass	13:0
4/26/2005	0	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearances: Rhonda Manuel - Department of City Development Damon Dorsey - North Avenue Community Development Corporation	Pass	5:0
4/21/2005	1	CITY CLERK	DRAFT SUBMITTED
4/12/2005	0	COMMON COUNCIL	ASSIGNED TO

Number
041749
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. DAVIS AND HINES
Title
Substitute resolution authorizing the transfer and expenditure of $150,000 from the Development Fund for the Business Improvement District Commercial and Economic Development Fund.
Analysis
This substitute resolution authorizes and directs the appropriate City officials to transfer $150,000 from the Development Fund account to a new subaccount. These funds will be used to support commercial and economic development activities in Business Improvement Districts via the Business Improvement District Commercial and Economic Development Fund as specified in the Fund's Program Guidelines.
Body
Whereas, The City of Milwaukee's Capital Budget provides for the Development Fund; and

Whereas, The City of Milwaukee (“City”) has an ongoing commitment to the creation and growth of Business Improvement Districts throughout the City; and

Whereas, The Department of City Development will provide economic development resources via a Business Improvement District Commercial and Economic Development Fund to assist Business Improvement Districts in their efforts to revitalize the City's commercial districts; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the City Comptroller is authorized and directed to transfer $150,000 from the Development Fund Parent Account to the Business Improvement District Commercial and Economic Development Fund Account No. UR03397200 for the purposes stated herein and according to the Fund's Program Guidelines, a copy of which are attached to this Common Council File; 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 accordance with generally accepted accounting practices and the City guidelines necessary to maintain the fiscal control to carry out the intent...