Number
070098
Version
ORIGINAL
Reference
000429, 041704
Sponsor
ALD. HINES
Title
Resolution authorizing a grant to the North Avenue Community Development Corporation in the amount of $85,000 from the North Avenue Economic Development Fund, in the 15th Aldermanic District.
Analysis
This resolution approves a grant from TID No. 40 to the North Avenue Community Development Corporation in the amount of $85,000 to complete the Toussaint Square development.
Body
Whereas, On September 6, 2000, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 000429, which approved a Project Plan and created Tax Incremental District No. 40 (North 35th Street and West North Avenue)(“TID No. 40”); and
Whereas, On May 3, 2005, the Common Council adopted File No. 041704 approving a Cooperation Agreement between the City of Milwaukee and the Redevelopment Authority of the City of Milwaukee for administration of the North Avenue Economic Development Fund (“Fund”); and
Whereas, The North Avenue Community Development Corporation (“NACDC”) submitted an application to the Fund for $85,000 to complete the Toussaint Square development; and
Whereas, The Toussaint Square development will not be completed without receiving the requested grant; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that a grant from the North Avenue Economic Development Fund to NACDC in the amount of $85,000 is approved subject to the terms and conditions of the Cooperation Agreement; and, be it
Further Resolved, That the City Comptroller, in conjunction with the Commissioner of City Development, is directed to perform such acts and to create such subaccounts as are necessary to maintain the fiscal control required to carry out the intent of this Common Council File; and, be it
Further Resolved, That the Commissioner of City Development is directed to enter into all contracts or agreements to carryout these activities.
Drafter
DCD:JWS:jws
04/17/0...
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