Number
110035
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. BAUMAN
Title
Substitute resolution authorizing the creation and funding of the St. Paul Avenue Exterior Enhancement Grant Program and approving Program Eligibility Requirements and Guidelines.
Analysis
This substitute resolution authorizes the creation and funding of the St. Paul Avenue Exterior Enhancement Grant Program and approves Program Eligibility Requirements and Guidelines. Specifically, the City Comptroller is directed to transfer $75,000 from the Development Fund Parent Account to the St. Paul Avenue Exterior Enhancement Grant Program Project Account. By doing so, the City may assist property owners and businesses in the targeted St. Paul Avenue business district, leveraging substantial private investment and improvements to the exterior of commercial and light industrial buildings.
Body
Whereas, The Department of City Development has operated a number of business incentive programs for a number of years; and
Whereas, The City-Wide Facade Grant Program and the Retail Investment Fund have provided businesses with development incentives for visible reinvestment in the St. Paul Avenue business district and neighborhood commercial area; and
Whereas, The Common Council of the City of Milwaukee ("Common Council") created Business Improvement District No. 26 ("BID No. 26") via File No. 990931 on October 19, 1999, as authorized by Section 66.1109, Wisconsin Statutes, to provide a financing method to allow the Menomonee Valley business district to be self-sustaining; and
Whereas, BID No. 26 has committed $25,000 for the St. Paul Avenue Exterior Enhancement Grant Program ("SPAEEGP" or "Program"); and
Whereas, The SPAEEGP is designed to provide business incentives for exterior improvements to businesses and property owners; and
Whereas, It is recognized that the SPAEEGP requires a set of Program Eligibility Requirements and Guidelines, a copy of which is attached to this Common Council File; and
Whereas, The City of Milwaukee can leverage significant amounts of private investment and improvements to the businesses and properties located in the targeted area in the St. Paul Avenue business district if the SPAEEGP is available to assist businesses or property owners with upgrades to street facing building exteriors and landscaping; and
Whereas, This Program will provide a significant incentive to increase the vitality of the St. Paul Avenue business district; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City Comptroller is directed to transfer $75,000 from the Development Fund Parent Account No. 9900-UR03310000A to the St. Paul Avenue Exterior Enhancement Grant Program Project Account; and, be it
Further Resolved, That these funds are designated for improvements in the target area, as listed in the Program Eligibility Requirements and Guidelines, which are established herein by the Common Council; and, be it
Further Resolved, That the Commissioner of the Department of City Development is directed to enter into contracts and agreements, as necessary, to carryout said Program.
Drafter
DCD:RFM:rfm
05/10/11