Number
001806
Version
SUBSTITUTE 1
Reference
001548
Sponsor
ALD. HENNINGSEN
Title
Substitute resolution approving the Public Improvement Development and Maintenance Agreement for Business Improvement District No. 10 (Avenues West Extended Streetscaping) between the City of Milwaukee and Business Improvement District No. 10 (Avenues West).
Analysis
This resolution authorizes a Public Improvement Development and Maintenance Agreement for the Business Improvement District No. 10 Extended Streetscaping Project. BID No. 10 proposes to extend its streetscaping efforts in the Avenues West area along West Wisconsin Avenue from 16th to 28th Streets. The Public Improvement Development and Maintenance Agreement details the responsibilities of the City and BID No. 10 for the construction, maintenance and financing of the project. In particular it commits the BID to repay up to $250,000, plus interest, to the City over a 15-year period. The City's share of the project cost is provided through Common Council File No. 001548 adopted on March 20, 2001.
Body
Whereas, On October 30, 1992, the Common Council of the City of Milwaukee created Business Improvement District No. 10 ("BID No. 10") via File No. 921091 and approved its first year Operating Plan; and
Whereas, The first year Operating Plan for BID No. 10 called for the BID Board to enter into an agreement with the City of Milwaukee ("City") for financing, installation and maintenance of a mutually acceptable streetscape improvement project for the Avenues West Business Improvement District; and
Whereas, The Common Council has provided funding for the City's share of the project cost through File No. 001548 adopted on March 20, 2001; and
Whereas, A Public Improvement Development and Maintenance Agreement Term Sheet for said streetscaping project, a copy of which is attached to this Common Council File, has been prepared with the participation of the BID No. 10 Board and City departments; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the proper City officials are authorized and directed to enter into a Public Improvement Development and Maintenance Agreement for the Business Improvement District No. 10 extended streetscaping project in accordance with the Term Sheet for said Agreement; and, be it
Further Resolved, That the City Attorney's Office, in cooperation with the Commissioner of City Development, is authorized and directed to draft said Agreement which is consistent with the terms and conditions of said Term Sheet and is mutually acceptable to the City Attorney, the Commissioner of City Development, and BID No. 10; and, be it
Further Resolved, That all City officials, departments, boards and commissions are authorized and directed to assist and cooperate with project.
Drafter
DCD/RFM/rfm
05/17/01