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File #: 191797    Version:
Type: Resolution Status: Passed
File created: 3/3/2020 In control: COMMON COUNCIL
On agenda: Final action: 3/24/2020
Effective date:    
Title: Substitute resolution relative to the nomination for The Beacon/504 West National Avenue for a Wisconsin Economic Development Corporation Community Development Investment Grant, in the 12th Aldermanic District.
Sponsors: ALD. PEREZ
Indexes: COMMUNITY DEVELOPMENT, GRANTS
Attachments: 1. Hearing Notice List, 2. PowerPoint

Number

191797

Version

SUBSTITUTE 1

Reference

 

Sponsor

ALD. PEREZ

Title

Substitute resolution relative to the nomination for The Beacon/504 West National Avenue for a Wisconsin Economic Development Corporation Community Development Investment Grant, in the 12th Aldermanic District.

Analysis

This substitute resolution authorizes the City to nominate The Beacon/504 West National Avenue for a Community Development Investment Grant from the Wisconsin Economic Development Corporation. The purpose of the project is to assist in the redevelopment of The Beacon/504 West National Avenue in the South 5th Street “Creative Corridor” in the City of Milwaukee.

Body

Whereas, The City of Milwaukee (“City”) is eligible to nominate projects for grant funds from the Wisconsin Economic Development Corporation (“WEDC”); and

 

Whereas, The implementation of this Community Development Investment Grant will involve the expenditure of $4,378,125; and

 

Whereas, The City recognizes that the redevelopment of The Beacon is critical to the prosperity of the South 5th Street “Creative Corridor”; and

 

Whereas, The benefits to the City from this grant project appear to exceed the City's obligations to be incurred under this project; now, therefore, be it

 

Resolved, By the Common Council of the City of Milwaukee, that the City nominates The Beacon/504 West National Avenue for a Community Development Investment Grant.

Drafter

DCD:Natanael.Martinez:nm

03/12/20