NUMB:
990129
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution authorizing City of Milwaukee consent to the Riverwalk Easement and Project Agreement with the Historic Riverwalk Plaza LLC and the Riverwalk Plaza Condominium Association, Inc. (DCD)
ANLS:
- Analysis -
This resolution authorizes the proper City officials to execute the consent to the Riverwalk Easement and Project Agreement between the Historic Riverwalk Plaza LLC, the Riverwalk Plaza Condominium Association, Inc. and Business Improvement District No. 2. This consent is necessary because the easement granted under the Agreement runs to the Board of Business Improvement District No. 2, rather than to the City of Milwaukee as originally authorized under a Development Agreement between the Historic Riverwalk Plaza LLC, the Riverwalk Plaza Condominium Association, Inc. and the City of Milwaukee.
BODY:
Whereas, The Common Council of the City of Milwaukee via File No. 870501, approved the creation of Business Improvement District No. 2 ("BID No. 2") and also approved the initial Operating Plan for BID No. 2 ("Operating Plan") pursuant to Chapter 66.608, Wisconsin Statutes; and
Whereas, The objective of the Operating Plan was to enhance commercial and residential activity in a section of the City known as the Historic Third Ward; and
Whereas, The Historic Riverwalk Plaza LLC and the Riverwalk Plaza Condominium Association, Inc. (collectively the "Owner") is the developer of certain real property located at 141 and 201 North Water Street along the Milwaukee River in the City of Milwaukee, State of Wisconsin (the "Property"); and
Whereas, The Owner is renovating and converting the existing buildings on the Property into an 81-unit condominium development consisting of 79 residential units and two commercial units. In connection with such development, the Owner is also constructing a riverwalk along the western boundary of the Property (the "Riverwalk Improvements") and various improvements upon and/or generally adjacent to vacated Chicago Street between the existing buildings on the Property (the "Street Improvements"), all pursuant to the terms of a Development Agreement for Riverwalk Plaza Condominium between the Owner and the City of Milwaukee dated February 19, 1998 (the "Development Agreement"), which was approved by the Common Council of the City of Milwaukee via File Nos. 971014 and 971313; and
Whereas, The Owner, the City and BID No. 2 acknowledge that the Riverwalk Improvements will constitute a portion of the overall downtown riverwalk system and that in the Development Agreement, the Owner agreed to cooperate with the BID No. 2 Board to ensure that the Riverwalk Improvements become part of a comprehensive, publicly accessible riverwalk system running along the Milwaukee River through the Historic Third Ward (the "Riverwalk System") and that the components of the Riverwalk System are compatible in design and appearance and uniform in maintenance and usage; and
Whereas, The Owner and the BID No. 2 Board have entered into a March 19, 1999 Riverwalk Easement and Project Agreement ("Easement and Project Agreement") under which, in lieu of the Owner granting to the City of Milwaukee the Riverwalk Easement set forth in the Development Agreement, the Owner would grant to the Board the easement rights set forth in the Easement and Project Agreement and City officials would execute the consent to the Easement and Project Agreement set forth in that Agreement, 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 the proper City officials are authorized to execute the consent to the Riverwalk Easement and Project Agreement with the Historic Riverwalk Plaza LLC, the Riverwalk Plaza Condominium Association, Inc. and the Board of Business Improvement District No. 2.
ZDPT:
City Attorney
DFTR:
DCD:MJW:mg
04/20/99/B