Number
250152
Version
ORIGINAL
Reference
241347
Sponsor
ALD. BAUMAN
Title
Resolution approving a Development Agreement for the construction of the Gary Grunau Memorial Plaza, in the 4th Aldermanic District.
Analysis
This resolution approves the Development Agreement for the construction of the Gary Grunau Memorial Plaza project.
Body
Whereas, On January 21, 2025, the City of Milwaukee (“City”) approved Amendment No. 2 to the Project Plan for Tax Incremental District No. 84 (West McKinley & Juneau) that approved up to $5,000,000 in project costs for a public plaza on West Highland Avenue adjacent to the Milwaukee River; and
Whereas, The City, and Business Improvement District No. 15 (“Developer”) now desire to enter into an Agreement to provide for the development of the Gary Grunau Memorial Plaza on Highland Avenue between North Dr. Martin Luther King Jr. Drive and the Riverwalk; and
Whereas, The City is willing to provide the Developer with up to $5,000,000 in funds from Tax Incremental District No. 84 to finance 78 percent of the cost of constructing this plaza; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the proper City officials are authorized to execute the Development Agreement, a draft of which is attached to this Common Council File; and, be it
Further Resolved, That the City Attorney’s office, in cooperation with the Commissioner of City Development, is authorized to make such further minor modifications to said Development Agreement that are consistent with the intent and purpose of this resolution and the Tax Incremental District No. 84 Project Plan and which are mutually acceptable to the City Attorney, the Commissioner of City Development, and Business Improvement District #15.
Drafter
DCD:Alyssa.Remington:aer
05/13/25/A