The URL can be used to link to this page

Home My WebLink AboutBid Grant-419 N Main St 8/22/2005 ~ tit.. .~h___ DOWNTOWN OSHKOSH BUSINESS IMPROVEMENT DISTRICT RECRillTMENT 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". B. 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. C. Provide $5,000 (Five Thousand Dollars) to Applicant for eligible expenditures associated with the new business located at 419 N. 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. B. 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. C. Reimburse the Downtown Oshkosh BID the total grant amount ($5,000), if the business fails to operate at 419 N. Main Street one year from grant date. D. Reimburse the Downtown Oshkosh BID one-half of the grant funds ($2,500) if the business operates at 419 N. Main Street more than one year, but less than two years from grant date. 'J'1""v( WITNESS WHEREOF, the parties hereunto set their hands and seals on this ~ day of i ,2005. t-'1f'LG"/ etI ItJ l. '- l.,. LORE ~SS: 419 N Miin St ALLOCATI Cl'J: $5000.00 Approved as to availability of funding: {~JJQ~~' EDWARD A. NOKES, Finance Director