Number
130391
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. ZIELINSKI
Title
Substitute resolution authorizing the transfer and expenditure of $150,000 from the Development Fund for the redevelopment of the Avalon Theater.
Analysis
This substitute resolution authorizes an expenditure of $150,000 from the Development Fund for the redevelopment of the Avalon Theater.
Body
Whereas, The Avalon Theater redevelopment project proposes significant historic renovation efforts to convert the space into two modern theaters with 240 and 80 seats, respectively, and in-theater dinner and bar service; and
Whereas, The Avalon Theater redevelopment project is essential to the revitalization of Milwaukee’s Bay View neighborhood; and
Whereas, The Avalon Theater is located in Business Improvement District No. 44 (Kinnickinnic Avenue) and will enhance the neighborhood commercial corridor; and
Whereas, The City of Milwaukee (“City”) created the Development Fund to provide grants or loans to projects that facilitate future tax base growth; and
Whereas, A grant from the Development Fund will alleviate costs for the project and ensure successful redevelopment that will enhance the appearance of the neighborhood and help attract more private investment; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City Comptroller is directed to transfer $150,000 from the Development Fund Parent Account No. UR03311000A-9990 for the Avalon Theater redevelopment project, Account Number UR03399900-1910; and, be it
Further Resolved, That the City Comptroller, in conjunction with the Commissioner of the Department of City Development, is directed to establish any and all subaccounts in accordance with accepted accounting practices and the City guidelines necessary to maintain the fiscal control to carry out the intent and purpose of this resolution; and, be it
Further Resolved, That all City officials, departments, boards and commissions are directed ...
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