City of Milwaukee - File #: 980409

• File #: 980409
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 6/30/1998
• In control: FINANCE & PERSONNEL COMMITTEE
• Final action: 7/7/1998
• Title: Substitute resolution accepting in principle a payment schedule for the 1998 City of Milwaukee contribution to the Miller Park infrastructure construction. (Budget & Management)
• Sponsors: THE CHAIR
• Indexes: MUNICIPAL BORROWING, OFF STREET PARKING, PARKING, PUBLIC IMPROVEMENTS, SPORTS ACTIVITIES

Date	Ver.	Action By	Action	Result	Tally
7/20/1998	1	MAYOR	RETURNED NOT SIGNED
7/7/1998	1	COMMON COUNCIL	ADOPTED	Pass	12:5
7/1/1998	1	CITY CLERK	DRAFT SUBMITTED
7/1/1998	1	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	5:0
6/30/1998	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
6/30/1998	0	COMMON COUNCIL	ASSIGNED TO

NUMB:

980409

VERS:

Substitute 1

REF:

XXBY:

THE CHAIR

TITL:

Substitute resolution accepting in principle a payment schedule for the 1998 City of Milwaukee contribution to the Miller Park infrastructure construction. (Budget & Management)

BODY:

Whereas, The City of Milwaukee has committed to a contribution to the Miller Park infrastructure of $18 million dollars; and

Whereas, This payment under the conditions of the Memorandum of Understanding may be a combination of out-of-pocket and in-kind contributions; and

Whereas, $9 million of the total contribution is due in July of 1998; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that payment be made in accordance to the following schedule:

Parking Supported Debt                                              $4.5 million

Sell 18 Acres at E. Layton and S. Pennsylvania            3.0 million

Interest Savings on $15 million Loan                             2.4 million (Estimated Only)

DFTR:

Budget and Management Division

Ref: 95050, GML:cei

July 1, 1998

FINANCE:stadres.doc