HomeMy WebLinkAboutBID Grant-538 N Main St
DOWNTOWN OSHKOSH BUSINESS IMPROVEMENT DISTRICT
RECRUITMENT GRANT FUND
LETIER OF AGREEMENT
Whereas, the Downtown Oshkosh Business Improvement District Board (BID) established a "Recruitment
Grant Fund" for the purpose of promoting economic development in the Downtown Oshkosh Business
Improvement District of the City ofOsbkosh (City) by attracting new business or relocating businesses to
within the BID. Grant funds are provided to the successful applicant(s) for eligible projects.
The Downtown Oshkosh Business Improvement District Board shall:
A. Provide financial aid in the form of grant funds as described in the "Downtown Oshkosh
Business Improvement District Recruitment Fund Grant Application".
Suspend or terminate this Agreement in the event the Applicant fails to perform
according to this Agreement, or when the Downtown Oshkosh BID and Applicant agree
to tenninate this Agreement.
Provide $5,000 (Five Thousand Dollars) to Applicant for eligible expenditores associated
with the business expansion at 538 North Main Street.
The Applicant shall:
A. If requested, provide the City or the Downtown Oshkosh BID with all information
necessary for the disbursement of grant funds.
Agree to and does hereby hold the City and the Downtown Oshkosh BID harmless and
does hereby indemnify the City against any claims or demands of any persons or
organizations arising by reason of this Agreement
Reimburse the Downtown Oshkosh BID the total grant amount ($5,000), if the business
fails to operate at 538 North Main Street one year from grant date.
Reimburse the Downtown Oshkosh BID one-half of the grant funds ($2,500) if the
business operates at 538 North Main Street more than one year, but less than two years
from grant date.
.,.
IN WITNESS WHEREOF, the parties hereunto set their hands and seals on this...l- day of
Mwrvl- , 2004.
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scent Moon Antiques and Salvage, ILC
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NORMAN PACKER
Downtown Oshkosh BID, Chair
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RICHARD A. WOILANGK, City Manager
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Approved as to availability of funding:
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EOW ARD A. NO , Finance Director