Number
240255
Version
SUBSTITUTE 1
Sponsor
THE CHAIR
Title
Substitute resolution relating to increasing 2024 capital grantor share appropriation authority by up to $25,000,000 for DPW street projects and DCD TID projects which receive partial reimbursement through various State and/or Federal aid and grant programs, but require the city to front the project cost.
Body
Whereas, The Capital Improvements City-Wide Grantor Share Non-City Cash Account, No. 0306-9990-R999-SP032240100 was funded in the amount of $10,000,000 in the 2024 adopted budget; and
Whereas, This account provides funding for projects which receive partial reimbursement through various State and/or Federal aid and grant programs, but require the city to front the project cost; and
Whereas, the city’s participation in grantor share needs in 2024 will require up to $15,000,000 in additional expenditure authority for Department of City Development TID projects and up to $10,000,000 for Department of Public works Street Infrastructure projects; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that up to $25,000,000 in additional expenditure authority is appropriated to the Capital Improvements City-Wide Grantor Share Non-City Cash Account No. 0306-9990-R999-SP032240100 and the Estimated Revenue/Funding Source (2024 VSNCCR - Grantor Share Non-City Cash Revenue); and, be it
Further Resolved, That the City Comptroller be, and hereby is, authorized and directed to establish the necessary accounts and accounting procedures to carry out the intent of this resolution.
Requestor
DOA-Budget and Management Division
Drafter
Mason Lavey
June 21, 2024
I:\FINANCE\Resolutions\2024 Resolutions\2024 - Capital Grantor Share Appropriation Authority (DPW Street Projects & DCD TID Projects) - Resolution