Number
230790
Version
Original
Reference 230327, 230331, 220467, 220969
Sponsor
ALD. BROSTOFF
Title
Resolution approving the execution of a Sidewalk and Parking Easement Agreement with GenCap KG North Avenue 91, LLC regarding the Riverwest Food Accelerator development, in the 3rd Aldermanic District.
Analysis
This resolution approves the execution of a Sidewalk and Parking Easement Agreement with GenCap KG North Avenue 91, LLC regarding the Riverwest Food Accelerator development, in the 3rd Aldermanic District.
Body.
Whereas, GenCap KG North Avenue 91, LLC, a collaboration between General Capital Development, LLC and KG Development Group, LLC (the “Developer”), is developing the Riverwest Food Accelerator (the “Project”), located at 1132, 1136-1146, and 1164 East North Avenue, Tax Parcel Numbers 320-1416-100, 320-1693-000, and 320-1692-000 (the “Property”); and
Whereas, The Project includes a total of 91 apartment units affordable across a range of incomes and a ground floor space which will be utilized for activities related to food, cooking, and nutrition education and food oriented entrepreneurship; and
Whereas, Common Council Resolution File No. 230327 authorized sale of the 1136 Parcel, a City-owned parcel, to Developer to assist in development of the Project; and
Whereas, Common Council Resolution File No. 230331 approved creation of Tax Incremental District No. 116 to assist in development of the Project; and
Whereas, Common Council Resolution File Nos. 220467 and 220969 further approved an American Rescue Plan Act grant and Housing Trust Fund grant to assist in development of the Project; and
Whereas, As part of the Project, Developer intends to grant a perpetual and nonexclusive easement on a portion of the Property to the City of Milwaukee for the purpose of allowing pedestrian access over the sidewalk to be constructed thereon and for parking within the parking spaces to be constructed thereon;
Whereas, Developer shall construct the sidewalk and parking spaces on the easement area in accordance with the plans submitted and approved by the City of Milwaukee; and
Whereas, The Office of the City Attorney has reviewed the proposed Sidewalk and Parking Easement Agreement, a copy of which is attached hereto; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Sidewalk and Parking Easement Agreement is hereby approved, and the proper City officials are hereby authorized to execute the Sidewalk and Parking Easement Agreement in substantial conformity to the agreement submitted alongside this file, and take other reasonable steps needed to execute the Sidewalk and Parking Easement Agreement.
Drafter
City Attorney
Alex Carson
9/18/2023