NUMB:
991358
VERS:
ORIGINAL
REF:
XXBY:
ALD. D'AMATO
TITL:
Resolution authorizing expenditures from the Development Opportunities Fund for costs associated with new development at 1415 North Farwell Avenue. (DCD)
ANLS:
- Analysis -
This resolution authorizes the expenditure of $10,000 from the Development Opportunities Fund to reimburse the owner of the development at 1415 North Farwell Avenue for a portion of extraordinary expenses incurred.
BODY:
Whereas, The 1999 Capital Budget provides for the Development Opportunities Fund; and
Whereas, One of the purposes of this fund is to leverage high quality development that is appropriate to its surroundings; and
Whereas, The owner of 1415 North Farwell Avenue has invested $1.1 million in the new Farwell Shell; and
Whereas, The owner significantly increased project costs to design a building that honors and reflects the various East Pointe developments around it; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the City Comptroller is authorized and directed to transfer the sum of $10,000 from the Development Opportunities Fund parent account 0339-9990-UR03680000 to budget line 0339-1910-UR03680000; and, be it
Further Resolved, That the Commissioner of the Department of City Development is authorized and directed to enter into any contracts or agreements necessary to carry-out said activity.
ZDPT:
DFTR:
DCD:BT:jan
11/29/99/A