Fiscal Note
The Resolution proposes an allocation of an additional $150,000 in CDBG- administered funds to support the Urban League project. The proposed total City funding commitment for the project is $1,000,000, with $450,000 derived from Federal monies as administered by CDBG, and the remaining $550,000 from City general obligation debt. The Council has previously approved $300,000 in Federal/CDBG monies for the project and $150,000 of general obligation debt funding is authorized in the 2008 PCED Adopted Capital budget (Project No. 39, “Urban League Economic Development Center,” Account No. 810597). An additional $400,000 in general obligation debt funding is included in the 2009 PCED requested capital budget.
Title
Authorizing the provision of an additional $150,000 in CDBG funds to assist the Urban League of Greater Madison to acquire property and construct a building to develop a Center for Economic Development at The Villager in ways that address City, Community and Neighborhood Development Objectives, and authorizing the Mayor and City Clerk to enter into contractual agreements as appropriate.
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The Urban League of Greater Madison (ULGM) is the local affiliate of the National Urban League. The local organization has sponsored several programs intended to strengthen the job skills or job readiness of many lower-income people and people of various racial and ethnic backgrounds, as well as provide youth mentoring, and business development services.
Over the last several years, ULGM has explored ways to leverage the sale of its current headquarters on Gorham Street and find a site that would be more accessible to its client base, provide space for its programs, and permit it to partner or grow its program in the business support area. ULGM has entered into an agreement to purchase land from the Community Development Authority at The Villager where the ULGM will construct a 36,000 square foot facility. Approximately 14,000 square feet will house...
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