Number
051309
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. HINES
Title
Substitute resolution relating to activities to be partially funded through the City of Milwaukee’s 2006 special purpose account, Regional Economic Development Initiative.
Analysis
This resolution authorizes an appropriation of $50,000 from the 2006 special purpose account, Regional Economic Development Initiative, for the program of development, outreach and marketing known as “Milwaukee 7” to promote economic development in the seven counties of the Milwaukee region.
Body
Whereas, Retention, development and attraction of businesses to Milwaukee and the seven counties of the Milwaukee region to create new regional income and capital investment are critical to the creation of sustainable high quality jobs; and
Whereas, Competition for jobs, companies, quality of life, talent and investment exists at regional level across the United States and globally; and
Whereas, Government, business and civic leaders in the 7-county Milwaukee region, including the counties of Kenosha, Milwaukee, Ozaukee, Racine, Walworth, Washington and Waukesha, have cooperated in creating a unified strategy for a 5-year, $12.2 million Milwaukee Regional Economic Development campaign known as “Milwaukee 7;” and
Whereas, The “Milwaukee 7” unified strategy has been developed and will be implemented under the strategic direction of the Regional Economic Development Advisory Council, a representative body comprised of government, business and civic leaders from the 7-county region; and
Whereas, The “Milwaukee 7” unified strategy recognizes the importance to the region of the expansion of existing businesses and the fostering of entrepreneurship in the central city and especially the growth and creation of minority business; and
Whereas, The participants and contributors to the Milwaukee 7 initiative have demonstrated their vision and commitment to this 5-year effort by raising funds and pledges approaching the campaign goal of $12.2 million; and
Whereas, The City of Milwaukee’s participation in the campaign will help to assure that the Milwaukee 7 goal is successfully reached and the programs of the Milwaukee 7 initiative are successfully launched; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the participants and contributors to the Milwaukee Regional Economic Development initiative known as “Milwaukee 7” be commended for their vision and commitment to the prosperity and growth of the Milwaukee region; and, be it
Further Resolved, That the Comptroller is authorized to appropriate the sum of $50,000 from the City of Milwaukee’s 2006 Special Purpose Account, Regional Economic Development Initiative, Account No. 0001 1910 S210 006300, to the Milwaukee Development Corporation (a “501c3” nonprofit entity) to be placed in a segregated fund for the Milwaukee Regional Economic Development initiative known as “Milwaukee 7” to be expended for activities consistent with the 5-year business plan and strategies developed under the direction of the Regional Economic Development Advisory Council; and, be it
Further Resolved, That the Milwaukee Development Corporation is requested to submit to the Common Council, not less than annually, written reports detailing sources and expenditures of funds and progress updates related to the 5-year “Milwaukee 7” initiative.
Requestor
Drafter
LRB06029-2
RLW
3/16/2006