Number
070156
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. DAVIS
Title
Substitute resolution appropriating $10,000 from the Economic Development Committee Fund to Let’s Party, LLC.
Analysis
This resolution appropriates $10,000 from the Economic Development Committee Fund special purposes account for funding the Let’s Party, LLC efforts to enhance its security system needs at its new retail development located in the Midtown area.
Body
Whereas, The business Let’s Party, LLC has acquired and is spending $2.3 million to renovate a property in the Midtown area; and
Whereas, Let’s Party LLC has already hired more than 15 community residents for the renovation, which has included training in demolition that has lead to further employment with other firms; and
Whereas, This property will consist of 10,000 square feet of retail space for the Let’s Party Discount Party Store, 3,000 square feet to be leased to a national retailer, and 6,000 square feet dedicated to a banquet hall; and
Whereas, This development will attract new business and increase economic development in that portion of the city, and will add significant aesthetic improvements and streetscape appeal to the area; and
Whereas, One of the components of the renovation is a security and technological system to ensure general safety and deter theft and vandalism; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that $10,000 is appropriated from the Economic Development Committee Fund special purpose account, 0001-1310-S123-006300, to Let’s Party, LLC, to partially offset the costs for enhanced security system needs; and, be it
Further Resolved, That the appropriate City officials are directed to negotiate and enter into an agreement with the Let’s Party, LLC for the purposes of accepting City funds to be used to partially offset the costs for enhanced security system needs.
Requestor
Drafter
LRB07223-2
MET
4/19/07