NUMB:
000166
VERS:
SUBSTITUTE 1
REF:
XXBY:
ALD. GORDON, HINES AND CAMERON-ROLLINS
TITL:
Substitute resolution relating to the acceptance of funds, the creation of a Fond du Lac Avenue Economic Development Program, and the creation and execution of a Cooperation Agreement between the State of Wisconsin and the City of Milwaukee related to the above-cited Economic Development Program.
ANLS:
- Analysis -
This substitute resolution authorizes the Department of City Development to enter into a Cooperation Agreement with and to accept a Grant from the Wisconsin Department of Transportation. Grant funding will be used in accordance with the referenced Terms of the Cooperation Agreement for the Fond du Lac Avenue Economic Development Plan to support economic development activities of business associations, individual businesses and property owners in the North Avenue and Fond du Lac Avenue corridors.
BODY:
Whereas, The City of Milwaukee ("City") appears to be eligible for grant funds from the Wisconsin Department of Transportation; and
Whereas, It would appear that City involvement in this grant and aid program would result in a major benefit to the City by supporting economic development activities of business associations, individual businesses and property owners in the North Avenue and Fond du Lac Avenue corridors; and
Whereas, The City's Department of Administration, Intergovernmental Relations Division, has determined that operation of this Economic Development Program from July 1, 2000 to June 30, 2003 would cost approximately $500,000, of which $500,000 or 100 percent would be provided by the Grantor; and
Whereas, The Local Share of this Grant program, $0 or 0 percent, will be provided from the following sources:
In-Kind City Share: $-0-
Out-of-Pocket City Share: $-0-
Local, Non-City Share: $-0-
; and
Whereas, The City's Department of Administration, Intergovernmental Relations Division, has determined that the ...
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