HomeMy WebLinkAboutBID Grant-417 N Main St 10/18/2005
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DOWNTOWN OSHKOSH BUSINESS IMPROVEMENT DISTRICT
RECRUITMENT GRANT FUND
LETTER 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 ofthe 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 thts Agreement in the event the Applicant fails to perform
according to this Agree¡þ.ent, or when the Downtown Oshkosh BID and Applicant agree
to terminate this Agree~ent.
Provide $5,000 (Five Thousand Dollars) to Applicant for eligible expenditures associated
with the new business Ideated at 417 N. Main Street.
The Applicant shall: I
A: Ifrequested, provide the City or the Downtown Oshkosh BID with all information
necessary for the disburfement of grant funds.
B. Agree to and does herebY hold the City and the Downtown Oshkosh BID harmless and
does hereby indenmify the City against any claims or demands of any persons or
organizations arising b~ reason of this Agreement.
Reimburse the Downt~~.. OslIkosh BIDthe total grant amount ($5,000), if the business
fails to operate at 417 N. Main Street one year from grant date.
Reimburse the Downtok Oshkosh BID one-half of the grant funds ($2,500) if the
business operates at 417 N. Main Street more than one year, but less than two years from
grant date.
~6~SS WH~:O~.F, the parties hereunto set their hands and seals on this } g day of
B.
C.
C.
D.
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POLISHED-A NAIL STUDIO
Heather Hein, Owner
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POL - NAIL STUDIO
Megan Bartelt, Owner
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Downtown Oshkosh BID, Chair
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RICHARD A. WOLLANGK, City Manager
Approved as to availability of funding:
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EDWARD A. NOKES; Finance Director