Number
101375
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. ZIELINSKI, BAUMAN, KOVAC, WADE AND WIKOWIAK
Title
Substitute resolution appropriating $250,000 from the Development Fund to Sweet Water Organics for economic development purposes, in the 14th Aldermanic District.
Analysis
This resolution authorizes the expenditure of $250,000 from the Development Fund in the form of a forgivable loan to Sweet Water Organics to assist in a “Milwaukee Grow Zone” development project.
Body
Whereas, The 2011 Capital Budget for the City of Milwaukee provides for the Development Fund; and
Whereas, The City has an ongoing commitment to job retention and creation; and
Whereas, Sweet Water Organics is an urban farm that has re-purposed an unused industrial building in Milwaukee’s Bay View neighborhood; and
Whereas, Virtually all of the product grown and raised at Sweetwater and sold to city vendors such as Empire Fish, La Marenda, and many others, creates a 2.75 economic multiplier factor in the work force; and
Whereas, Future production would meet additional demand requested by such vendors as Roundy’s, Metcalfe/Sentry and SURG Restaurant Group; and
Whereas, These products are sold to retail outlets where they generate additional jobs and tax revenue and are making the city a recognized worldwide leader in the aquaponics industry as Sweetwater’s numerous appearances in the national and international media attest; and
Whereas, Sweetwater was one of 24 winners of the IBM Smaller Cities Challenge Grant, chosen from over 200 cities in 40 countries world-wide attesting to the power of its business concepts to attract global attention; and
Whereas, Numerous Milwaukee companies, foundations and educational entities (Great Lakes Water Institute, UWM, and MSOE, for example) are working with Sweetwater to expand its capacity and to assist it in patenting and licensing its products and operating trade secrets; and
Whereas, Sweet Water Organics has provided the yell...
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