HomeMy WebLinkAboutBID Grant-100 N Main Street
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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 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 $10,000 (Ten Thousand Dollars) to Applicant for eligible expenditures associated
with the new business at 100 North Main Street, Suite 110.
The Applicant shall:
A. Ifrequested, 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.
Demonstrate supporting documentation for eligible expenditures in the amount of $40,000
in order to receive the full $10,000 reimbursement. Reimbursement amount will be
reduced proportionally if total expenditures by applicant are less than $40,000.
Reimburse,the Downtown Oshkosh BID the total grant amount ($10,000), if the business
fails to operate at 100 North Main Street, Suite 110 one year from grant date.
Reimburse the Downtown Oshkosh BID one-half of the grant funds ($5,000) if the
business operates at 100 North Main Street, Suite 110 more than one year, but less than two
years from grant date.
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Downtown Oshkosh BID, Chair
Approved as to availability of funding:
~IAAQ Q VL./L/
EDWARD A. NOKES, Finance Director
Address: 100 North Main Street, Suite 110
Allocation: $10,000