NUMB:
980085
VERS:
SUBSTITUTE 1
REF:
971722
XXBY:
ALD. HENNINGSEN
TITL:
Substitute resolution authorizing Amendment No. 1 to the Riverwalk Development Agreement for Business Improvement District No. 2 (Historic Third Ward).
ANLS:
- Analysis -
This substitute resolution approves an amendment to the Riverwalk Development Agreement for Business Improvement District No. 2. This resolution incorporates prior actions related to the inclusion of the Riverwalk at the Milwaukee Institute of Art and Design into the overall Riverwalk Project to be administered by the Board of BID No. 2.
BODY:
Whereas, The Common Council under File No. 970388, adopted September 23, 1997, created the Historic Third Ward Riverwalk Tax Incremental District No. 34 and adopted a Project Plan for said Tax Incremental District; and
Whereas, The Common Council under File No. 971722, adopted March 20, 1998, approved the Riverwalk Development Agreement for Business Improvement District No. 2 ("BID No. 2"); and
Whereas, Both the TID Project Plan and the Riverwalk Development Agreement contemplated but did not specifically provide for the inclusion of the development of a Riverwalk at the Milwaukee Institute of Art and Design ("MIAD"); and
Whereas, The Board of BID No. 2 and MIAD both desire the inclusion of the MIAD Riverwalk in the overall Historic Third Ward Riverwalk Project for ease of construction and coordination consistency; and
Whereas, The Common Council desires to cooperate with the Board of BID No. 2 and MIAD to include development of the MIAD Riverwalk Project under the administrative management of the Board of BID No. 2 as outlined in Amendment No. 1 to the Riverwalk Development Agreement for Business Improvement District No. 2, a copy of which is attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that Amendment No. 1 to the Riverwalk Development Agreement for Business Improvement District No. 2 (Historic Third Ward) is approved; and, be it
Further Resolved, That the proper City officials are authorized and directed to execute said Amendment No. 1; and, be it
Further Resolved, That all City officials, departments, boards and commissions are authorized and directed to take such actions and to provide such assistance as is necessary to carry out the intent and purpose of this resolution.
ZDPT:
DFTR:
DCD/MJW/mg
06/02/98