Number
170448
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. BOHL AND STAMPER
Title
Substitute ordinance relating to community participation in development agreements.
Sections
355-13-5 cr
355-17 rc
Analysis
This ordinance provides that every development agreement subject to the requirements for community participation in development agreements shall include a provision indicating that if the developer fails to comply with all resident preference hours, the commissioner of city development shall cause financial assistance to be withheld, reduced or reimbursed to the city. The provision shall include a schedule of intermediate phases of the project, benchmarks for resident preference hours following the completion of each intermediate phase of the project, and a formula setting forth the amount of direct financial assistance that the commissioner shall withhold, reduce or require to be reimbursed to the city if the actual resident preference hours are less than the established benchmark at each intermediate phase of the project.
This ordinance also provides that any financial assistance that is withheld, reduced or required to be reimbursed to the city may be reinstated or returned after the developer remedies any deficiency in the required resident preference hours or with the approval of the common council.
This ordinance also provides that every development agreement subject to the requirements for community participation in development agreements shall include a provision indicating that the department of administration shall impose sanctions and may seek a forfeiture as currently permitted by the code. In addition, any sanction imposed as a result of non-compliance with resident preference hours, other than a forfeiture or withholding of payment, shall be subject to approval by the common council.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 355-13-5 of the code is created to read:
355-...
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