NUMB:
981200
VERS:
ORIGINAL
REF:
980085
XXBY:
THE CHAIR
TITL:
Resolution approving a Second Amendment to the Riverwalk Development Agreement for Business Improvement District No. 2 in the 4th Aldermanic District. (DCD)
ANLS:
- Analysis -
This resolution authorizes the Second Amendment to the June 23, 1998 Riverwalk Development Agreement for Business Improvement District No. 2. The amendment is being entered into in order to permit expenditures for upfront design, consulting and other developmental expenses to be increased from the 7 percent of aggregate project budget amount to 10 percent of the aggregate project budget. This will allow for the testing of certain wood paving material along vacated East Chicago Street from North Water Street to a point east of North Water Street in the project area.
BODY:
Whereas, The City of Milwaukee ("City") and the Business Improvement District No. 2 Board ("Board") entered into a Riverwalk Development Agreement for Business Improvement District No. 2 dated as of June 23, 1998 (the "Development Agreement"); and
Whereas, The City and the Board entered into a First Amendment to the Riverwalk Development Agreement dated as of July 30, 1998 (the "First Amendment"); and
Whereas, The City and the Board desire to enter into this Second Amendment to the Development Agreement to provide funding sufficient to test certain wood paving material along vacated East Chicago Street from North Water Street to a point east of North Water Street; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the proper City officials are authorized and directed to execute the Second Amendment to the Riverwalk Development Agreement for Business Improvement District No. 2, a copy of which is attached to this Common Council File.
ZDPT:
DFTR:
DCD/MJW/mg
11/24/98/B