City of Milwaukee - File #: 071117

• File #: 071117
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 11/21/2007
• In control: COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE
• Final action: 1/15/2008
• Title: Resolution approving a Cooperation and Development Agreement for the Astronautics Corporation of America, Inc., Project at 4115 North Teutonia Avenue and 1412 West National Avenue, in the 1st and 12th Aldermanic Districts.
• Sponsors: ALD. HAMILTON, James N. Witkowiak
• Indexes: AGREEMENTS, ECONOMIC DEVELOPMENT

Date	Ver.	Action By	Action	Result	Tally
1/23/2008	0	MAYOR	SIGNED
1/15/2008	0	COMMON COUNCIL	ADOPTED	Pass	14:0
1/9/2008	0	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Also Present: Jim Scherer, Department of City Development. Holly Russek, Astronautics Cooperation of America Inc.	Pass	4:0
1/3/2008	0	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
1/3/2008	0	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/21/2007	0	COMMON COUNCIL	ASSIGNED TO

Number
071117
Version
ORIGINAL
Reference

Sponsor
ALD. HAMILTON AND WITKOWIAK
Title
Resolution approving a Cooperation and Development Agreement for the Astronautics Corporation of America, Inc., Project at 4115 North Teutonia Avenue and 1412 West National Avenue, in the 1st and 12th Aldermanic Districts.
Analysis
This resolution authorizes a loan of $100,000 to assist Astronautics Corporation of America, Inc., to upgrade its building and parking lot security systems for its engineering and assembly employees who work at its facilities on Teutonia Avenue and National Avenue. Annual loan payments, scheduled over a ten-year term, shall be forgiven provided that the company maintains a workforce of 525 in the City of Milwaukee beginning one year after the loan closing.
Body
Whereas, Astronautics Corporation of America, Inc., (“Astronautics”) is headquartered at 4115 North Teutonia Avenue and has its main production facility at 1412 West National Avenue, both in the City of Milwaukee (“City”); and

Whereas, Astronautics was established in 1959 and is a world leader in the design, development and manufacture of military and commercial electronics for air, space, land and sea applications; and

Whereas, Astronautics’ products are used throughout the world and more than 100,000 aircraft use its flight instruments, displays, computers and components; and

Whereas, Astronautics’ major product lines are aircraft cockpit avionics systems, navigational systems, flight instruments, flat panel displays, mission and display processors and numerous other products; and

Whereas, The company has a wholly owned subsidiary in New Jersey with an additional facility in North Carolina, which designs and manufactures guidance and navigation systems as well as high precision components and actuators; and

Whereas, Astronautics currently employs approximately 550 people at its Teutonia Avenue headquarters and at its National Avenue facility, not including part-time employees an...