Number
100608
Version
SUBSTITUTE 2
Reference
Sponsor
THE CHAIR
Title
Substitute resolution authorizing the Department of City Development to apply for a Transportation Economic Assistance grant from the Wisconsin Department of Transportation, in the 7th Aldermanic District.
Analysis
This substitute resolution authorizes the Department of City Development to apply for a Transportation Economic Assistance grant from the Wisconsin Department of Transportation on behalf of United Milwaukee Scrap, LLC, to provide partial funding for the company to install a rail spur to serve its property at 3280 North 35th Street.
Body
Whereas, The Wisconsin Department of Transportation (“WISDOT”) accepts applications for Transportation Economic Assistance (“TEA”) grants to fund transportation projects that support business growth and retention; and
Whereas, The applicant for a TEA grant must be a unit of local government, even though such grants may be used to assist a privately owned business; and
Whereas, A TEA grant requires a 50 percent local match; and
Whereas, A TEA grant must retain or create at least one job for every $5,000 of grant funding; and
Whereas, The applicant for a TEA grant must enter into a job guarantee with WISDOT and agree to reimburse WISDOT if job targets are not met; and
Whereas, United Milwaukee Scrap, LLC, has asked the City of Milwaukee to apply for a TEA grant to be used to provide a rail spur to its operation at 3280 North 35th Street; and
Whereas, TEA grant funds will leverage employment growth at United Milwaukee Scrap, LLC; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Department of City Development (“DCD”) is authorized to apply to the Wisconsin Department of Transportation for a TEA grant on behalf of United Milwaukee Scrap, LLC; and, be it
Further Resolved, That the local match required for the TEA grant will be subject to further negotiations; and, be it
Further Resolved, That DCD i...
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