City of Milwaukee - File #: 160430

• File #: 160430
• Version: 2
• Type: Resolution
• Status: Passed
• File created: 7/6/2016
• In control: COMMON COUNCIL
• Final action: 7/26/2016
• Title: Substitute resolution authorizing the transfer and expenditure of funds from the Neighborhood Commercial District Street Improvement Fund and Business Improvement District Fund to finance improvements to the vacant grocery store at 2322 West Oak Street, in the 15th Aldermanic District.
• Sponsors: ALD. STAMPER
• Indexes: MUNICIPAL FINANCE, REDEVELOPMENT, URBAN

Date	Ver.	Action By	Action	Result	Tally
8/3/2016	2	MAYOR	SIGNED
7/26/2016	2	COMMON COUNCIL	ADOPTED	Pass	15:0
7/20/2016	2	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individual appearing: David Schroeder, Department of City Development	Pass	4:0
7/15/2016	2	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
7/15/2016	2	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
7/15/2016	2	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
7/13/2016	2	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	SUBSTITUTED; Minutes note: Rocky Marcoux and Ken LIttle - Dept. of City Development Lashondra Brennan - Walnut Way Gregory Martin - Lena's Food Market Jacquelyn Ward - Managing Director of BID #32 Proposed Substitue A accepted.	Pass	5:0
7/13/2016	2	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION AND ASSIGNED	Pass	5:0
7/6/2016	0	COMMON COUNCIL	ASSIGNED TO

Number
160430
Version
SUBSTITUTE 2
Reference

Sponsor
ALD. STAMPER
Title
Substitute resolution authorizing the transfer and expenditure of funds from the Neighborhood Commercial District Street Improvement Fund and Business Improvement District Fund to finance improvements to the vacant grocery store at 2322 West Oak Street, in the 15th Aldermanic District.
Analysis
Adoption of this substitute resolution authorizes a grant of $100,000 and a loan of $100,000 to Business Improvement District No. 32 for the purpose of providing financial support to the redevelopment of the vacant grocery store at 2322 West Oak Street.
Body
Whereas, The grocery store at 2322 West Oak Street (“the Property”) is no longer in operation, reducing access to fresh food for residents in nearby neighborhoods; and

Whereas, A new operator, Save-A-Lot (the “Operator”), has been secured for the store; and

Whereas, The new Operator plans significant improvements to the building’s interior, exterior and site to better serve customers and make the store a more welcoming and attractive neighborhood asset; and

Whereas, The redevelopment and re-occupancy of the Property will restore economic vitality and vital services to the surrounding neighborhood; and

Whereas, Business Improvement District No. 32 (“BID No. 32”) is supporting the redevelopment and re-tenanting of the Property; and

Whereas, The City of Milwaukee (“City”) wishes to provide financial support to the redevelopment of the Property; and

Whereas, The City’s Capital Budget includes a Neighborhood Commercial District Street Improvement Fund (“NCDSIF”) and a Business Improvement District Fund (“BID Fund”) established for the purpose of providing support to neighborhood commercial districts and business improvement districts; and

Whereas, Sufficient funds are available in NCDSIF and BID Fund accounts to provide a grant of $100,000 and a loan of $100,000 to BID No. 32 to support redevelopment of the Property; now, therefore, b...