Number
020863
Version
SUBSTITUTE 2
Reference
Sponsor
THE CHAIR
Title
Substitute resolution relative to the extension of Large Impact Development (LID) projects.
Analysis
Body
Whereas, The Common Council of the City of Milwaukee approved the award of Large Impact Development (LID) funds to Esperanza Unida, Inc. in the amount of $100,000; and
Whereas, The timeline for this Large Impact Development project has expired, per the LID policy; and
Whereas, The Community Development Committee has agreed to extend Esperanza Unida, Inc. LID project to January 1, 2003; now therefore, be it
Resolved, That the release of funds will be governed by the LID policy; and, be it
Further Resolved, That the project must submit budget and activity reports according to any conditions approved by the Common Council and the Mayor in conformance with File number 74-92-5v to the Community Block Grant Administration and the City Comptroller for their review and approval; and, be it
Further Resolved That payments for CDBG cost incurred shall be paid in accordance with approved CDBG reimbursement policy based on the approval by the Community Block Grant Administration and City Comptroller of a Budget Forecast (CDA-51).
Requestor
Drafter
LID 10-8
10/02/02