City of Milwaukee - File #: 230195

• File #: 230195
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 5/31/2023
• In control: COMMON COUNCIL
• Final action: 6/20/2023
• Title: Resolution relating to acceptance and expenditure of a Wisconsin Economic Development Corporation Community Development Investment Grant for The New State MKE LLC at 2608 West State Street, Milwaukee, Wisconsin, 53233, in the 4th Aldermanic District.
• Sponsors: ALD. BAUMAN
• Indexes: STATE GRANTS, THEATERS, WISCONSIN ECONOMIC DEVELOPMENT CORPORATION

Date	Ver.	Action By	Action	Result	Tally
6/23/2023	0	MAYOR	SIGNED
6/20/2023	0	COMMON COUNCIL	ADOPTED	Pass	14:0
6/13/2023	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Matt Rejc, Dept. of City Development John Hennessy	Pass	4:0
5/31/2023	0	COMMON COUNCIL	ASSIGNED TO

Number
230195
Version
ORIGINAL
Reference

Sponsor
ALD. BAUMAN
Title
Resolution relating to acceptance and expenditure of a Wisconsin Economic Development Corporation Community Development Investment Grant for The New State MKE LLC at 2608 West State Street, Milwaukee, Wisconsin, 53233, in the 4th Aldermanic District.
Analysis
This resolution authorizes the Department of City Development to accept and expend a Community Development Investment Grant from the Wisconsin Economic Development Corporation in the amount of $250,000, with total project costs in excess of $500,000, and enter into an agreement, if the grant is awarded. The purpose of the project is to assist in the redevelopment of the space into a new café and restaurant in the Avenues West 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 New State/2608 West State Street in the Avenues West neighborhood in the City; and

Whereas, The implementation of this Community Development Investment Grant from April 2023 to September 2024 will involve the expenditure of $500,000 of which $250,000 (50 percent) will be provided by the Grantor, and $250,000 (50 percent) will be provided by the developer; and

Whereas, The City recognizes that the redevelopment of The New State is critical to the prosperity of the State Street 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 acceptance and expenditure of the Community Development Investment Grant is authorized and that the Department of City Development (“DCD”) shall accept this grant without further approval unless the terms of the grant change as indicated in...