Number
210534
Version
SUBSTITUTE 1
Reference
170173, 210268
Sponsor
ALD. RAINEY, DODD, LEWIS AND STAMPER
Title
Substitute resolution relating to creation of a business cooperative grant program and appropriating funds for this purpose.
Analysis
This resolution directs the Department of City Development to create a business cooperative grant program and allocates $15,000,000 of American Rescue Plan Act (ARPA) grant funding for that purpose.
Body
Whereas, The American Rescue Plan Act (ARPA) grant is scheduled to operate from March 3, 2021 to December 31, 2024, and is anticipated to provide approximately $394,226,649 to the City of Milwaukee through the Local Fiscal Recovery Fund (LFRF); and
Whereas, The City has received the initial LFRF grant award of $197,113,324.50, of which the full amount is provided by the grantor, with $0 provided by the City; and
Whereas, On May 25, 2021, The Common Council adopted Resolution File Number 210268, allocating $3,800,000 to fund the Earn and Learn Program; and
Whereas, The LFRF provides substantial flexibility for the City of Milwaukee to provide a foundation for a strong and equitable recovery from the COVID-19 pandemic; and
Whereas, The City of Cleveland created Evergreen Cooperative, a group of businesses that help residents of seven low-income neighborhoods find jobs, build stability, and buy houses; and
Whereas, Common Council File Number 170173, adopted on May 31, 2017, directed the Department of City Development to pursue the creation of a business cooperative based on Cleveland’s Evergreen Cooperative; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that $15,000,000 in American Rescue Plan Act (ARPA) funds shall be allocated to the Department of City Development to create a business cooperative; and be it
Further Resolved, That $15,000,000 of the LFRF grant funds are appropriated to the Department of City Development which is authorized to:
1. Expend from the amount appropriated sums for the creation of a business cooperative and incur costs consistent with the award date.
2. Expend from the grant budget funds for specific items of equipment.
3 Expend from the grant budget funds for training and out-of-town travel by departmental staff.
4. Enter into leases and subcontracts as needed to fulfill the purposes of the grant.
Requester
Drafter
LRB176818-2
Kathleen M. Brengosz
Tea B. Norfolk
7/12/2021