City of Milwaukee - File #: 141321

• File #: 141321
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 11/25/2014
• In control: COMMON COUNCIL
• Final action: 12/16/2014
• Title: Substitute resolution relative to acceptance and expenditure of a Wisconsin Economic Development Corporation Community Development Investment Grant for The Commons project, in the 15th Aldermanic District.
• Sponsors: Russell Stamper
• Indexes: ECONOMIC DEVELOPMENT, GRANTS, WISCONSIN ECONOMIC DEVELOPMENT CORPORATION

Date	Ver.	Action By	Action	Result	Tally
12/16/2014	1	MAYOR	SIGNED
12/16/2014	1	COMMON COUNCIL	ADOPTED	Pass	14:0
12/9/2014	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Lori Lutzka, Department of City Development Rocky Marcoux, Department of City Development Commissioner Ald. Russell Stamper, II, 15th Aldermanic District Sharon Adams, Walnut Way Juli Kaufmann, Fix Development, LLC Ald. Bohl passed the gavel to Ald. Perez.	Pass	5:0
12/3/2014	1	CITY CLERK	DRAFT SUBMITTED
12/3/2014	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/25/2014	0	COMMON COUNCIL	ASSIGNED TO	Fail

Number
141321
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. STAMPER
Title
Substitute resolution relative to acceptance and expenditure of a Wisconsin Economic Development Corporation Community Development Investment Grant for The Commons project, in the 15th Aldermanic District.
Analysis
This substitute resolution authorizes the Department of City Development to accept and expend a Community Development Investment Grant from the Wisconsin Economic Development Corporation in the amount of $413,750, with an In-Kind Local Non-City Share (Various Entities) of $1,770,250, an In-Kind Share (Commercial Investment Program) of $50,000, with total project costs of $2,234,000. The purpose of the project is to assist in the redevelopment of the Innovation and Wellness Commons-Phase I in the Lindsay Heights neighborhood in the City of Milwaukee.
Body
Whereas, The City of Milwaukee (“City”) is eligible for grant funds from the Wisconsin Economic Development Corporation (“WEDC”) to assist in the redevelopment of the Innovation and Wellness Commons (“The Commons”), Phase I, in the Lindsay Heights neighborhood in the City; and

Whereas, The implementation of this Community Development Investment Grant from January 1, 2015 to March 1, 2016 will cost $2,234,000 of which, $1,770,250 (79 percent) will be provided by an In-Kind Local Non-City Share (Various Entities), $50,000 (2 percent) will be provided by an In-Kind Share (Commercial Investment Program) and $413,750 (19 percent) will be provided by the grantor; and

Whereas, The City recognizes that the redevelopment of The Commons is critical to the future of the Lindsay Heights neighborhood; and

Whereas, The benefits to the City from this grant project appear to exceed the City’s obligations to be incurred under this project; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that acceptance of the Community Development Investment Grant is authorized and that the Department of City Develop...