IMMEDIATE ADOPTION
Number
201533
Version
ORIGINAL
Reference
Sponsor
ALD. LEWIS
Title
Resolution relative to nomination of a Wisconsin Economic Development Corporation Community Development Investment Grant for The Granville Connection/8633 West Brown Deer Road, in the 9th Aldermanic District.
Analysis
This resolution authorizes the Department of City Development to nominate The Granville Connection/8633 West Brown Deer Road for a Community Development Investment Grant from the Wisconsin Economic Development Corporation in the amount of $250,000.00, with total project costs of $500,000.00. The purpose of the project is to assist in the redevelopment of The Granville Connection/8633 West Brown Deer Road in the Granville neighborhood in the City of Milwaukee.
Body
Whereas, The City of Milwaukee (“City”) is eligible for grant funds from the Wisconsin Economic Development Corporation (“WEDC”), per a Grant Agreement between WEDC and the City to assist in the redevelopment of The Granville Connection/8633 West Brown Deer Road in the Granville neighborhood in the City; and
Whereas, The implementation of this Community Development Investment Grant from March 2021 to April 2022 will involve the expenditure of $500,000.00 of which $250,000.00 (50 percent) will be provided by the Grantor, and $250,000.00 (50 percent) will be provided by the developer; and
Whereas, The City recognizes that the redevelopment of The Granville Connection is critical to the prosperity of the Brown Deer Road commercial 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 nomination for The Granville Connection/8633 West Brown Deer Road for the Community Development Investment Grant is authorized.
Drafter
DCD:Natanael.Martinez:nm
03/23/21/A