NUMB:
971303
VERS:
Substitute 1
REF:
XXBY:
ALD. HENNINGSEN
TITL:
Substitute resolution authorizing the execution of a Management Agreement between the City of Milwaukee and the Neighborhood Improvement Development Corporation and authorizing execution of an amendment to the Cooperation Agreement.
ANLS:
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-Analysis-
This resolution approves and authorizes the City of Milwaukee to enter into a Management Agreement with the Neighborhood Development Corporation to continue the neighborhood preservation and neighborhood commercial development of the City and further authorizes and approves an Amended and Restated Cooperation Agreement for the Housing and Neighborhood Development Revolving Loan Program.
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BODY:
Whereas, the purpose of the Neighborhood Development Improvement Corporation ("NIDC") is to further the neighborhood preservation and neighborhood commercial development of the City of Milwaukee ("City") and to promote and undertake community development activities; and
Whereas, the City, through its Department of City Development ("DCD"), has been engaged in neighborhood preservation and commercial revitalization of the City over a number of years and has developed staff with particular expertise in such activities and has resources from collateral programs, which it administers or is aware of, to provide financial assistance to business enterprises and residential property owners; and
Whereas, NIDC and the City have been engaged in a cooperative effort since the mid-1970's with the City providing management and administrative services to NIDC; and
Whereas, Such cooperative effort has also evidenced itself in the City choosing to have NIDC administer certain Community Development Block Grant ("CDBG") and other grant funds and various neighborhood revitalization programs as may be administered by the City of Milwaukee; and
Whereas...
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