Number
040961
Version
SUBSTITUTE 1
Reference
031105, 031106
Sponsor
THE CHAIR
Title
Substitute resolution authorizing the transfer and expenditure of $90,000 from the Development Fund to facilitate new residential construction along St. Clair Street in the 14th Aldermanic District.
Analysis
This substitute resolution will permit the Department of City Development to spend $90,000 toward construction of sewer and water mains on South St. Clair Street to facilitate new residential construction.
Body
Whereas, On December 19, 2003, the Common Council of the City of Milwaukee adopted File No. 031105, which authorized the sale of 2469-71 South St. Clair Street ("the St. Clair site") for owner-occupied single-family residential development; and
Whereas, Development of the St. Clair site requires installing sewer and water mains at an estimated cost of $250,000, a higher amount than expected in 2003; and
Whereas, The developer of the St. Clair site agreed to purchase the land from the Department of City Development ("DCD") for $80,000; and
Whereas, DCD will assign the proceeds from the sale of the St. Clair site to pay for the cost to construct the sewer and water mains; and
Whereas, On December 19, 2003, the Common Council adopted File No. 031106, which authorized the transfer and expenditure of $80,000 from the Development Fund for the sewer and water mains; and
Whereas, The St. Clair Street Project is not economically feasible without an additional $90,000 from the Development Fund; and
Whereas, This residential development will grow the tax base by $1.2 million; and
Whereas, The City of Milwaukee has an ongoing commitment to the revitalization of neighborhoods; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the proper City officials are authorized and directed to transfer $90,000 from the Development Fund to Project Account No. UR03395000 for the construction of sewer and water mains on St. Clair Street; and, be it
Further Resolved, That the City Comptroller, in conjunction with the Commissioner of the Department of City Development, is authorized and directed to establish any and all subaccounts and follow 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 authorized and directed to assist and cooperate with said Project.
Drafter
DCD:JWS:jws
11/15/04