Milwaukee County Board of Supervisors Approves Near West Side Economic Development Fund
Additional $1.6 million in economic development estimated for Near West Side
Milwaukee – The Milwaukee County Board of Supervisors today approved a proposal to save the 9-story building on City Campus and use the savings for the Economic Development Fund, a public-private partnership that will help attract new private sector investment into Milwaukee’s Near West Side.
The proposal, initially brought forth by the Administration and Supervisor Weddle, was passed this Tuesday by a 7-0 count in the Economic & Community Development Committee and was approved by the full board at their meeting this morning.
“Near West Side Partners applauds everyone involved in this effort – Supervisor Weddle, the Administration, the leadership of the Economic & Community Development Committee and the entire Milwaukee County Board of Supervisors for their leadership on this important step forward for our community,” said Keith Stanley, executive director of Near West Side Partners, Inc. “This is another signal of confidence to the investment community, existing residents and businesses that the Near West Side is a neighborhood on the rise with a very bright future.”
Under the proposal, the $800,000 balance will be reallocated from demolition of the City Campus site to an Economic Development Fund that would be operated and managed by Near West Side Partners, Inc. (NWSP). NWSP will provide at least a 1-1 match of the County’s contribution through private sector investments for use in supporting neighborhood stability and economic growth in the Near West Side. The organization will report back annually to the Milwaukee County Board of Supervisors.
ABOUT NEAR WEST SIDE PARTNERS, INC.
Near West Side Partners, Inc. is a non-profit organization with a mission to revitalize and sustain the Near West Side as a thriving business and residential corridor, through collaborative efforts to promote commercial corridor development, improved housing, unified neighborhood identity and branding, and greater safety for residents and businesses. Near West Side Partners, Inc. is an organization of businesses and civic leaders from throughout the Near West Side, including the organization’s five anchor institutions – Aurora Health Care, Harley-Davidson, Marquette University, MillerCoors and Potawatomi Business Development Corp.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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