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Home My WebLink AboutBID Grant-502 N Main St DOWNTOWN OSHKOSH BUSINESS lMPROVEJ\.1ENT RECRUITMENT GRANT FUND LETTER OF AGREEJ\.1ENT 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 business relocation t0502 North 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 (five thousand dollars) if the business fails to operate at 502 North Main Street one year from grant date. D. Reimburse the Downtown Oshkosh BID one-half of the grant funds $2,500 (two thousand five hundred dollars) if the business operates at 502 North Main Street more than one year, but less than two years from grant date. IN WITNESS WHEREOF, the parties hereunto set their hands and seals on this ~ day of ~~t!''lL~ ~-..2007. . - r-;#I ~ RICHARD A. WOLLANGK, City Manager NORMAN PACKER Downtown Oshkosh BID, Chair - "- UJl(j .lQ.qp~p. ()(;WJL/ EDWARD A. NOKES, Finance Director Address: 502 N Main St Allocation $5000.00