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File #: 0563-21    Version: A Name: Subject: Communication sponsored by Chairman Tate requesting authorization for the Mayor and City Clerk to sign a revised agreement with the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) to fund up to seven buses and agreeing
Type: Communication Status: Passed
File created: 7/7/2021 In control: Finance and Personnel Committee
On agenda: Final action: 7/20/2021
Title: Subject: Communication sponsored by Alder Tate II. requesting authorization for the Mayor and City Clerk to sign a revised agreement with the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) to fund up to seven buses and agreeing to a reduction of future State shared revenue payments to pay for the local share. Recommendation of the Finance and Personnel Committee on 07-12-2021: To Approve Fiscal Note: Up to $1,247,532 in reduced state shared revenue payments amortized over ten annual installments at zero percent interest starting the year that the reimbursement occurs.
Attachments: 1. Finance and Personnel Committee 07-12-2021-- Revised VW Round 1 agreement, 2. #0563-21 Resolution

Title

Subject: Communication sponsored by Alder Tate II. requesting authorization for the Mayor and City Clerk to sign a revised agreement with the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) to fund up to seven buses and agreeing to a reduction of future State shared revenue payments to pay for the local share.

 

Recommendation of the Finance and Personnel Committee on 07-12-2021: To Approve

 

Fiscal Note: Up to $1,247,532 in reduced state shared revenue payments amortized over ten annual installments at zero percent interest starting the year that the reimbursement occurs.