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File #: 041704    Version: 0
Type: Resolution Status: Passed
File created: 4/12/2005 In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
On agenda: Final action: 5/3/2005
Effective date:    
Title: Resolution authorizing a Cooperation Agreement between the City of Milwaukee and the Redevelopment Authority of the City of Milwaukee for administration of the North Avenue Economic Development Fund, in the 15th Aldermanic District. (DCD)
Sponsors: THE CHAIR
Indexes: AGREEMENTS, ECONOMIC DEVELOPMENT, REDEVELOPMENT AUTHORITY, TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING
Attachments: 1. Fiscal Note.pdf, 2. Cooperation Agreement.pdf
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
5/12/20050 MAYOR SIGNED   Action details Meeting details Not available
5/3/20050 COMMON COUNCIL ADOPTEDPass13:1 Action details Meeting details Not available
4/26/20050 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Speakers: Jim Styers - Dept. of City Development Tim McMurtry - aide to Ald. Hines, 15th Aldermanic District Damon Dorsey - North Avenue Community Development Corp.		Pass5:0 Action details Meeting details Not available
4/19/20050 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/12/20050 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
041704
Version
ORIGINAL
Reference
000429
Sponsor
THE CHAIR
Title
Resolution authorizing a Cooperation Agreement between the City of Milwaukee and the Redevelopment Authority of the City of Milwaukee for administration of the North Avenue Economic Development Fund, in the 15th Aldermanic District. (DCD)
Analysis
This resolution will permit the Redevelopment Authority of the City of Milwaukee to approve and monitor loans and grants using funds from the North Avenue Economic Development Fund.
Body
Whereas, The Common Council of the City of Milwaukee approved the Project Plan for Tax Incremental District No. 40 ("Plan") by File No. 000429 on September 6, 2000; and
 
Whereas, The Plan authorizes grants to the Redevelopment Authority of the City of Milwaukee ("RACM") to create the North Avenue Economic Development Fund ("Fund"); and
 
Whereas, The Fund was created to finance business development loans and facade grants ("Loans and Grants") targeted to businesses in a redevelopment area located within Tax Incremental District No. 40; and
 
Whereas, A Cooperation Agreement between RACM and the City of Milwaukee will facilitate the proper administration of the loan and grant program; and
 
Whereas, RACM adopted Resolution No. 9702 on March 17, 2005, which authorizes a Cooperation Agreement with the City of Milwaukee for the administration of said Fund; now, therefore, be it
 
Resolved, By the Common Council of the City of Milwaukee, that the proper City officials are authorized and directed to enter into a Cooperation Agreement with RACM for the administration and management of the Fund; and, be it
 
Further Resolved, That RACM is authorized and directed to enter into any agreements necessary with recipients of Loans and Grants from the Fund necessary to carry out the purpose and intent of this resolution.
Drafter
DCD:JWS:jws
04/12/05/A