Number
150925
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. ZIELINSKI
Title
Substitute resolution appropriating $100,000 from the Commercial Investment Program to 4 Seasons Skate Park for economic development purposes, in the 14th Aldermanic District.
Analysis
This resolution authorizes the expenditure of $100,000 from the Commercial Investment Program in the form of a forgivable loan to 4 Seasons Skate Park to assist in a development project.
Body
Whereas, The 2014 Capital Budget provided $250,000 for the Commercial Investment Program, Account No. 9990-UR050140100; and
Whereas, This account currently has a balance of $127,381.25; and
Whereas, The 2016 Proposed Budget calls for an additional capital appropriation of $500,000 to the Commercial Investment Program; and
Whereas, The Common Council is committed to the creation and retention of City businesses and jobs; and
Whereas, The mission of 4 Seasons Skate Park is to serve as a safe and drug-free environment where local youth are encouraged to practice their sport, grow as individuals and connect with the community; and
Whereas, 4 Seasons Skate Park has successfully implemented its mission for 15 years in Milwaukee, and is seeking to relocate to a larger facility in the Bay View area; and
Whereas, 4 Seasons Skate Park is proposing to provide a wider range of safe and healthy community- and youth-oriented activities for Milwaukee residents and to attract local, national and international competitions to Milwaukee; and
Whereas, 4 Seasons Skate Park is committed to providing Milwaukee City residents a 25% discount on admission and membership rates; and
Whereas, 4 Seasons Skate Park estimates that relocation of its facility will create 4-6 temporary jobs and 2-4 permanent jobs for Milwaukee residents; and
Whereas, Management and staff of 4 Seasons Skate Park have consistently demonstrated a commitment to growing their business within the City of Milwaukee and a desire to increase their community events and outreach; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City Comptroller is directed to transfer $100,000 from the Commercial Investment Program, Account No. 9990-UR050140100, to the 4 Seasons Skate Park Project to fund a $100,000 forgivable loan to 4 Seasons Skate Park for a development project; and,
Resolved, The agreement shall be approved by the Community and Economic Development Committee, but not the entire Council, prior to its going into effect; and, be it
Further Resolved, That the Commissioner of the City of Development and the City Attorney are directed to negotiate and draft a loan agreement with 4 Seasons Skate Park on behalf of the City of Milwaukee, with the execution not to take place until the agreement has been approved by the Community and Economic Development Committee.
Requestor
Drafter
LRB161248-2
Andrew R. VanNatta
10/19/2015
Technical correction made - changed discount from Milwaukee County to Milwaukee City - LME 10/27/15
Second Resolve Clause added and Further Resolved clause amended based upon committee action - LME 10/27/15