HomeMy WebLinkAboutBID Grant-448 N Main St
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OCT 0 6 LUOb ;}f
Whereas, the Downtown Oshkosh Business Improvement District Board (BID) establish ---.. i <n I i
Fund Grant" for the purpose of promoting economic development in the Downtown Os o~JWneLI=R' .-"S QC:~" ,.:.;-;... I
Improvement District of the City of Oshkosh (City) by attracting new business or relocat usinesses'frj t, j ,-1\.. C ,
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within the BID. Grant funds are provided to the successful applicant(s) for eligible projects.
DOWNTOWN OSHKOSH BUSINESS IMPROVEMENT DISTRIC
RECRUITMENT FUND GRANT
LETTER OF AGREEMENT
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 $1,250 (One Thousand Two Hundred Fifty Dollars) to Applicant for eligible
expenditures associated with the new business 448 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. Demonstrate supporting documentation for eligible expenditures in the amount of$5,000 in
order to receive the full $1,250 reimbursement. Reimbursement amount will be reduced
proportionally if total expenditures by applicant are less than $5,000.
D. Reimburse the Downtown Oshkosh BID the total grant amount ($1,250), if the business
fails to operate at 448 N. Main Street one year from grant date.
E. Reimburse the Downtown Oshkosh BID one-half of the grant funds ($625) ifthe business
operates at 448 N. Main Street more than one year, but less than two years from grant date.
~..v:'J;~Ef,S WHEREOF, the parties hereunto set their hands and. seals on thiS~ day of
~Q1\~, 2006.
A. ahnke Inve,tment Pwf""ional ~ ~ City Manage,
J rey A. Jahnke, Owner
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Downtown Oshkosh BID, C1.f.iiI""- "''''~
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Approved as to availability of funding:
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EDWARD A. NOKES, Finance Director
Address: 448 N. Main Street
Allocation: $1,250