Number
130864
Version
ORIGINAL
Reference
130370
Sponsor
THE CHAIR
Title
Resolution authorizing the transfer of funds from the Facade Program to a subaccount to support the Citywide Facade Grant and Retail Investment Fund Programs.
Analysis
This resolution transfers $500,000 from the Capital Improvements Facade Program into Subaccount No. 1910-UR050120100 (Parent Account No. 1910-UR05012000A), titled "Facade-Retail/Business Investment." This subaccount allocation will provide funding to support the Citywide Facade Grant and Retail Investment Fund Programs.
Body
Whereas, The Department of City Development ("DCD") has operated the Citywide Facade Grant and Retail Investment Fund Programs ("Programs") for a number of years; and
Whereas, These Programs have provided significant incentive for visible reinvestment in downtown and neighborhood commercial corridors, providing needed commercial services and increasing local employment opportunities; and
Whereas, More attractive storefronts make Milwaukee a more pedestrian-friendly and attractive place for businesses, residents and visitors; and
Whereas, The City of Milwaukee ("City") will leverage significant amounts of private investment and improvement in neighborhood and downtown commercial corridors by providing business development incentives for interior and exterior improvements; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City Comptroller is directed to transfer the amount of $500,000 from the Capital Improvements Facade Program Account No. 1910-UR05012000A to be allocated to the Facade-Retail/Business Investment Subaccount No. 1910-UR050120100 to be used by DCD to support the Citywide Facade Grant and Retail Investment Fund Programs; and, be it
Further Resolved, That the Commissioner of DCD is directed to enter into contracts and agreements, as necessary, to carryout said Programs.
Drafter
DCD:DS:ds
10/15/13/A