City of Milwaukee - File #: 161577

• File #: 161577
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 3/1/2017
• In control: COMMON COUNCIL
• Final action: 3/28/2017
• Title: Substitute resolution approving the First Amendment to Development Agreement for the Mitchell Street Library Project.
• Sponsors: THE CHAIR
• Indexes: AGREEMENTS, LIBRARIES, MILWAUKEE PUBLIC LIBRARY

Date	Ver.	Action By	Action	Result	Tally
4/3/2017	1	MAYOR	SIGNED
3/28/2017	1	COMMON COUNCIL	ADOPTED	Pass	15:0
3/8/2017	0	PUBLIC WORKS COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Atty. Mary Schanning - City Attoney's Office Sam McGovern-Rowan - Library Ted Mackum - Gorman & Company Inc	Pass	5:0
3/1/2017	0	COMMON COUNCIL	ASSIGNED TO

Number
161577
Version
SUBSTITUTE 1

Sponsor
THE CHAIR

Title
Substitute resolution approving the First Amendment to Development Agreement for the Mitchell Street Library Project.
Analysis
This resolution approves the First Amendment to Development Agreement for the Mitchell Street Library branch in order to accommodate scheduling adjustments with the developer.
Body
Whereas, By passage of Ordinance File No. 151852 on May 24, 2016, the Common Council of the City of Milwaukee authorized a $5.3 million loan and the execution of a development agreement and other development-related documents among the City, the Milwaukee Public Library (“MPL”) and Gorman & Company, Inc. (“Developer”) for a development project that includes a new Milwaukee Public Library branch at 906-910 West Mitchell Street; and

Whereas, The original development agreement required the Developer to complete all work on the shell of the Library unit of the building by December 31, 2016, and upon such completion would trigger the payment to Developer of the remaining $4.5 million in loan funds being provided by the City; and

Whereas, The First Amendment to Development Agreement amends the deadline for Gorman to substantially complete the library shell to June 1, 2017 so the work can be coordinated with MPL’s work on the interior build-out; and

Whereas, The First Amendment to Development Agreement allows the City’s remaining loan funds to be paid into the transaction immediately so MPL can begin to pay its contractors for MPL’s work on the interior of the Library unit before Developer has completed all shell work; and

Whereas, The original development agreement required City to complete parking lot improvements adjacent to the project in exchange for a payment made by Developer to City for the parking lot land and improvements, however, it is now anticipated that Developer may complete those parking lot improvements; and

Whereas, The First Amendment to Development Agreement allows Dev...