IMMEDIATE ADOPTION
Number
241498
Version
ORIGINAL
Reference
22184, 221276, 231455, 231454, 230623, 230595, 241335
Sponsor
ALD. BAUMAN
Title
Resolution directing the proper City officials to sign-on as a co-applicant and enter into a Financial Assistance Award from the U.S. Department of Commerce, Economic Development Administration, for an Economic Adjustment Assistance Grant for the Kneeland Properties Infrastructure Project, in the 4th Aldermanic District.
Analysis
This resolution directs the proper City officials to co-sign as a co-applicant with the Redevelopment Authority of the City of Milwaukee (“RACM”) to an existing Financial Assistance Award from the U.S. Department of Commerce, Economic Development Administration (“EDA”), for an Economic Adjustment Assistance Grant for infrastructure improvements at the Kneeland Properties in the Menomonee Valley. The financial award was awarded to RACM in 2022 in the amount of $3,194,160. RACM approved Resolution No. 10903 on March 17, 2022 to apply, accept, and fund the EDA grant and is the land owner and the lead agent for the grant, and it will account for all grant revenues and expenditures. The City of Milwaukee is providing an $800,000 match from an amendment to TID #57 (Menomonee Valley-East Project) approved as Common Council File No. 22184 on April 18, 2023.
Body
Whereas, The Redevelopment Authority of the City of Milwaukee ("RACM") was the lead applicant for U.S. Department of Commerce, Economic Development Administration ("EDA”), Economic Adjustment Assistance funding; and
Whereas, In 2022, the EDA awarded a $3,194,160 Economic Adjustment Assistance Grant for the Kneeland Properties Infrastructure Improvement Project (EDA Investment No. 06-79-06437); and
Whereas, This grant will fund infrastructure development at the Kneeland Properties, including a public right-of-way extension, underground utilities, green infrastructure, and environm...
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