Number
081442
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. HINES, MURPHY AND KOVAC
Title
Substitute resolution creating an economic stimulus task force.
Analysis
This resolution establishes an 11-member City of Milwaukee Economic Stimulus Task Force to implement funding of various City projects in accordance with the federal American Recovery and Reinvestment Act.
Body
Whereas, Cities, states and countries around the globe have been experiencing the worst economic downturn since the Great Depression; and
Whereas, In order to “jump-start” the United States’ faltering economy, President Barack Obama and Congress have enacted a $787 billion federal economic stimulus package to dispense funding to states and localities for projects including but not limited to housing, economic development, job creation, public safety, education, health, infrastructure and environmental sustainability; and
Whereas, The federal stimulus bill, known as the American Recovery and Reinvestment Act, designates spending in over 130 different state and federal programs, with the majority of funds flowing through existing state programs and utilizing existing formulas; and
Whereas, In December 2008, Milwaukee Mayor Tom Barrett submitted a preliminary list of proposed City stimulus projects and spending priorities to then President-Elect Obama’s Transition Team and to the Wisconsin Congressional Delegation for their consideration, attached to this file; and
Whereas, Federal stimulus funds are critical to the City of Milwaukee’s ability to create and preserve family supporting jobs, strengthen the economy, and ensure long-lasting benefits to the community at large; and
Whereas, The State of Wisconsin anticipates receiving approximately $3.5 billion in stimulus aid, and although it has not yet been determined what share of that amount may be allocated to the City of Milwaukee, it is in the City’s best interest to be prepared to act swiftly to utilize its share of stimulus aid as ...
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