NUMB:
000440
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution relative to application, acceptance, and funding of a State of Wisconsin Department of Commerce Economic Development Grant for remediation and economic redevelopment projects in the Menomonee Valley. (DCD)
ANLS:
- Analysis -
This resolution authorizes the City of Milwaukee, Department of City Development, to accept and fund a State of Wisconsin Department of Commerce Grant for remediation and economic redevelopment projects in the Menomonee Valley. The Grant will be administered by the Milwaukee Economic Development Corporation. The amount of the Grant is $1,800,000 with a Local, Non-City Share of $900,000 and a Grantor Share of $900,000. The Local, Non-City Share will come from a match from the Grant recipients. The scope of the Grant will be for remediation and economic redevelopment projects in the Menomonee Valley.
BODY:
Whereas, The City of Milwaukee ("City") appears to be eligible for grant funds from the State of Wisconsin Department of Commerce for remediation and economic redevelopment in the Menomonee Valley; and
Whereas, The Department of Administration, Intergovernmental Relations Division, has determined that operation of this Grant program from August 1, 2000 to July 31, 2002 would cost approximately $1,800,000, of which $900,000 or 50 percent would be provided by the Grantor; and
Whereas, The Local, Non-City Share of this Grant program, $900,000 or 50 percent, will be provided from the grant recipients:
In-Kind City Share: $-0-
Out-of-Pocket City Share: $-0-
Local, Non-City Share: $900,000
; and
Whereas, The Department of Administration, Intergovernmental Relations Division, has determined that the benefits to the City from this Grant program appear to exceed the City's share of costs and other obligations to be incurred under this program; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that acceptanc...
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