Number
241335
Version
ORIGINAL
Reference
231455, 231454, 230623, 230595, 221276
Sponsor
ALD. BAUMAN
Title
Resolution relating to the acceptance, funding, and allocation of a FY2024 Economic Development Initiative Community Project Funding Grant from the U.S. Department of Housing and Urban Development for preparing vacant land in the Menomonee Valley for economic development and authorizing the appropriate City and RACM officials to execute related agreements.
Analysis
This resolution authorizes the City of Milwaukee to accept, fund, and allocate a U.S. Department of Housing and Urban Development FY2024 Economic Development Initiative Community Project Funding Grant in the amount of $500,000 with a City Share of $0 and a Grantor Share of $500,000. The purpose of this grant project is to prepare long-vacant land in Milwaukee’s Menomonee Valley, known as the Kneeland Properties, for new light industrial economic development.
Body
Whereas, The City of Milwaukee (“City”) is eligible to accept funding from the U.S. Department of Housing and Urban Development (“HUD”) for economic development activities through the Economic Development Initiative Community Project Funding (“HUD EDI CPF”); and
Whereas, This grant would provide funding for critical infrastructure and services to improve long-vacant land in Milwaukee’s Menomonee Valley known as the Kneeland Properties, including but not limited to, LED street lighting, site work, earthwork, removals, pavement, green infrastructure, public access improvements, environmental services, and civil engineering; and
Whereas, This funding was appropriated in the United States Congressional Consolidated Appropriations Act, 2024 (Public Law 118-42), and the Further Consolidated Appropriations Act, 2024 (Public Law 118-47); and
Whereas, The HUD (“Grantor”) will provide funding in the amount of $500,000 to the City of Milwaukee (“Grantee”)at zero percent match from the grant execution date to August 31, 2032; now, th...
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