Number
R13096
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving the Incorporation of Endeavor Inc. a Housing Authority of the City of Milwaukee community and supportive services entity
Analysis
Body
WHEREAS, the Housing Authority of the City of Milwaukee (HACM) provides community and supportive services to individuals and families; and
WHEREAS, HACM desires to expand its capacity to develop and implement innovative community and to supportive service programs in order to promote economic self-sufficiency and improve urban neighborhoods and the lives of those who live in them; and
WHEREAS, pursuant to HUD Notice: PIH-2007-15 (HA) the United States Department of Housing and Urban Development (“HUD”) encouraged public housing authorities to use instrumentalities for the development and/or operation of programs where it is determined to be in the best interest of the authority; and
WHEREAS, HACM wishes to create a new entity to be known as Endeavor, Inc. to act as the community and supportive services arm of HACM; and
WHEREAS, a company profile of Endeavor, Inc. is attached to this Resolution; and
WHEREAS, Endeavor, Inc. shall be an instrumentality of HACM; now, therefore, be it
RESOLVED, by the Housing Authority of the City of Milwaukee that the incorporation of Endeavor, Inc., is hereby approved; and, be it,
FURTHER RESOLVED, that Endeavor, Inc., as an instrumentality of HACM, shall have HACM as its sole member upon incorporation and, be it
FURTHER RESOLVED, that HACM shall initially contribute One Thousand Dollars ($1,000.00) as an initial member contribution and extend up to One Hundred Thousand Dollars ($100,000.00) as a standby credit line for working capital and, be it
FURTHER RESOLVED, HACM’s Executive Director is authorized to sign incorporation papers and other documents and instruments determined to be necessary, to recommend initial board members, to recruit and hire staff for the initial start-up operatio...
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