Number
150925
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. ZIELINSKI
Title
Substitute resolution appropriating $100,000 from the Commercial Investment Program to 4 Seasons Skate Park for economic development purposes, in the 14th Aldermanic District.
Analysis
This resolution authorizes the expenditure of $100,000 from the Commercial Investment Program in the form of a forgivable loan to 4 Seasons Skate Park to assist in a development project.
Body
Whereas, The 2014 Capital Budget provided $250,000 for the Commercial Investment Program, Account No. 9990-UR050140100; and
Whereas, This account currently has a balance of $127,381.25; and
Whereas, The 2016 Proposed Budget calls for an additional capital appropriation of $500,000 to the Commercial Investment Program; and
Whereas, The Common Council is committed to the creation and retention of City businesses and jobs; and
Whereas, The mission of 4 Seasons Skate Park is to serve as a safe and drug-free environment where local youth are encouraged to practice their sport, grow as individuals and connect with the community; and
Whereas, 4 Seasons Skate Park has successfully implemented its mission for 15 years in Milwaukee, and is seeking to relocate to a larger facility in the Bay View area; and
Whereas, 4 Seasons Skate Park is proposing to provide a wider range of safe and healthy community- and youth-oriented activities for Milwaukee residents and to attract local, national and international competitions to Milwaukee; and
Whereas, 4 Seasons Skate Park is committed to providing Milwaukee City residents a 25% discount on admission and membership rates; and
Whereas, 4 Seasons Skate Park estimates that relocation of its facility will create 4-6 temporary jobs and 2-4 permanent jobs for Milwaukee residents; and
Whereas, Management and staff of 4 Seasons Skate Park have consistently demonstrated a commitment to growing their business within the City of Milwaukee and a desire to increase their comm...
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