Number
170817
Version
ORIGINAL
Reference
170406
Sponsor
ALD. BAUMAN
Title
Resolution relating to a Memorandum of Understanding between Goll Mansion LLC and the City of Milwaukee for the provision of community benefits and preservation of the Frederick T. and Eleanor Goll House in conjunction with Goll Mansion LLC’s development of the property located at 1550 North Prospect Avenue.
Analysis
This resolution directs the City Attorney to prepare, and the proper City officials to execute, a Memorandum of Understanding between Goll Mansion LLC (and any and all future owners of the property at 1550 North Prospect Avenue) -- the “Developer” -- and the City that contains terms and conditions substantially the same as the following:
1. Developer shall use unemployed or underemployed residents of the city to perform at least 20% of the total worker hours on the development project at 1550 North Prospect Avenue, in accordance with the definitions and other relevant provisions of the City’s Residents Preference Program ordinance.
2. Developer shall use small business enterprises for at least 20% of the total dollars expended for construction of the project at 1550 North Prospect Avenue, in accordance with the definitions and other relevant provisions of the City’s Small Business Enterprise Program ordinance.
3. Prior to issuance of any building permits for the project at 1550 North Prospect Avenue, Developer shall deposit, in an escrow account approved by the appropriate City officials, the sum of $2,500,000.
4. At the time of project completion, Developer shall submit to the Department of City Development and the Office of Small Business Development documentation verifying that Developer has satisfied the city resident worker-hour and small business enterprise requirements.
5. If Developer fails to submit the required documentation within 30 days of project completion, or the Department of City Development or Office of Small Business Development dete...
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