Number
020335
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. GORDON
Title
Substitute resolution approving the Public Improvement Development and Maintenance Agreement for Business Improvement District No. 27, Burleigh Street Streetscaping, between the City of Milwaukee and Business Improvement District No. 27 (West Burleigh Street).
Analysis
Business Improvement District No. 27 streetscaping project proposes to enhance West Burleigh Street between Sherman Boulevard and North 60th Street. The Public Improvement Development and Maintenance Agreement details the responsibilities of the City and the BID for the construction, maintenance and financing of the project. In particular it commits the BID to repay up to $35,000 plus interest to the City over a 15-year period.
Body
Whereas, On October 21, 2001, the Common Council of the City of Milwaukee created Business Improvement District No. 27 (“BID No. 27”) via File No. 010751 and approved its first year Operating Plan; and
Whereas, The first year Operating Plan for BID No. 27 calls for the BID Board to enter into an agreement with the City of Milwaukee (“City”) for financing, installation and maintenance of a mutually acceptable streetscape improvement project for the West Burleigh Street Business Improvement District; and
Whereas, The 2002 Capital Budget for the City contains $35,000 in the Neighborhood Commercial District Street Improvement Fund and $35,000 in the Business Improvement District Fund; and
Whereas, The Common Council of the City of Milwaukee has adopted File No. 921490 which established guidelines for use of the Neighborhood Commercial District Street Improvement Fund; and
Whereas, The proposed project meets those guidelines; and
Whereas, A Public Improvement Development and Maintenance Agreement Term Sheet for said streetscaping project, a copy of which is attached to this Common Council File, has been prepared with the participation of the BID No. 27 Board and Cit...
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