Number
020577
Version
ORIGINAL
Reference
000440
Sponsor
ALD. HENNINGSEN
Title
Resolution relative to application, acceptance and funding of a Fiscal Year 2002-2003 State of Wisconsin Department of Commerce Economic Development Grant for remediation and economic redevelopment projects in the Menomonee Valley and to approve an indefinite period of operation for previously approved Common Council File No. 000440. (DCD)
Analysis
This resolution authorizes the City of Milwaukee, Department of City Development, to accept and fund a Fiscal Year 2002-2003 State of Wisconsin Department of Commerce Grant for remediation and economic redevelopment projects in the Menomonee Valley. This is an additional award the City received and approved under Common Council File No. 000440 dated August 11, 2000. The Grant will be administered by the Milwaukee Economic Development Corporation. The amount of the Grant is $1,800,000 with a Local, Non-City Share of $900,000 and a Grantor Share of $900,000. The Local, Non-City Share will come from a match from the Grant recipients. The scope of the Grant will be for remediation and economic redevelopment projects in the Menomonee Valley.
Body
Whereas, The City of Milwaukee ("City") appears to be eligible for grant funds from the State of Wisconsin Department of Commerce for remediation and economic redevelopment in the Menomonee Valley; and
Whereas, The Department of Administration, Intergovernmental Relations Division, has determined that operation of this Grant program would cost approximately $1,800,000, of which $900,000 or 50 percent would be provided by the Grantor; and
Whereas, The Local, Non-City Share of this Grant program, $900,000 or 50 percent, will be provided from grant recipients:
In-Kind City Share: $-0-
Out-of-Pocket City Share: $-0-
Local, Non-City Share: $900,000
; and
Whereas, The Department of Administration, Intergovernmental Relations Division, has determined that the benefits...
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