HomeMy WebLinkAboutBID Grant-100 C City Center
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. OCT 062004 1/))/
DOWNTOWN OSHKOSH BUSINESS IMPROVEMENT DIS! CT-:J!
RECRUITMENT GRANT FUND I
LETTER OF AGREEMENT CITY..CLERK'S' OF- II.'
-- FICE
Whereas, the Downtown Oshkosh Business Improvement District Board (BID) established a "Rec~--..J
Grant Fund" for the purpose of promoting economic development in the Downtown Oshkosh Business
Improvement District of the City of Oshkosh (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 terminate this Agreement.
Provide $5,000 (Five Thousand Dollars) to Applicant for eligible expenditures associated
with the business expansion located at 1 OO-C City Center.
B.
C.
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 100-C City Center one year from grant date.
Reimburse the Downtown Oshkosh BID one-half of the grant funds ($2,500) if the
business operates at 100-C City Center more than one year, but less than two years from
grant date.
B.
.
C.
D.
&,ITNESS WHEREOF, the parties hereunto set their hands and seals on this & day of
j~l\k ,2004.
(:4~cú-iJ ~~
Manet Perk, In . RICHARD A. WOLLANGK, City Manager
Anna M. Sundet, Chief Executive Officer
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Downtown Oshkosh BID, Chair
Approved as to availability of funding:
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EDWARD A. NOKES, Finance Director
PMUIT : $5000 . 00
LOCATION: 1O0-C City Center