City of Racine - File #: Res.0148-18

• File #: Res.0148-18
• Version: A
• Name: Final Negotiated Terms of Grant Agreement with Wild Root Market Cooperative - Cooperative Market at 500 Walton Avenue (Res. 0115-18)
• Type: Resolution
• Status: Passed
• File created: 5/15/2018
• In control: City Attorney's Office
• On agenda: 5/15/2018
• Final action: 5/15/2018
• Title: Final Negotiated Terms of Grant Agreement with Wild Root Market Cooperative - Cooperative Market at 500 Walton Avenue (Res. 0115-18) Resolved, that the final negotiated terms of the grant agreement with Wild Root Market Cooperative is approved for the construction of a cooperative market at 500 Walton Avenue with the understanding that "Grantee" is changed to "Grantor" under section "GRANT AGREEMENT." Fiscal Note: The grant would consist of a “Phase I” $290,000 disbursement after specific requirements have been met and a “Phase II” $100,000 matching grant that is available after the Phase I funds are disbursed and matching funds have been raised by the Cooperative. Funds for the grant could come from the City’s Intergovernmental Revenue Funds. There are sufficient funds in the account to support the grant.
• Sponsors: Q.A. Shakoor II
• Related files: 0458-18

Date	Ver.	Action By	Action	Result
5/15/2018	A	Common Council	Adopted

Sponsor

Alderman Shakoor

Title

Final Negotiated Terms of Grant Agreement with Wild Root Market Cooperative - Cooperative Market at 500 Walton Avenue (Res. 0115-18)

Resolved, that the final negotiated terms of the grant agreement with Wild Root Market Cooperative is approved for the construction of a cooperative market at 500 Walton Avenue with the understanding that "Grantee" is changed to "Grantor" under section "GRANT AGREEMENT."

Fiscal Note: The grant would consist of a “Phase I” $290,000 disbursement after specific requirements have been met and a “Phase II” $100,000 matching grant that is available after the Phase I funds are disbursed and matching funds have been raised by the Cooperative. Funds for the grant could come from the City’s Intergovernmental Revenue Funds. There are sufficient funds in the account to support the grant.