City of Milwaukee - File #: 080293

• File #: 080293
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 6/10/2008
• In control: COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE
• Final action: 7/1/2008
• Title: Substitute resolution relating to public funding for the West Pointe condominium project, 2632 W. Wells Street.
• Sponsors: ALD. BAUMAN
• Indexes: COMMUNITY DEVELOPMENT, COMMUNITY DEVELOPMENT BLOCK GRANT, HOUSING

Date	Ver.	Action By	Action	Result	Tally
7/11/2008	1	MAYOR	SIGNED
7/1/2008	1	COMMON COUNCIL	ADOPTED	Pass	15:0
6/23/2008	0	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	AMENDED; Minutes note: Appearances by: Ald. Bauman, 4th Aldermanic Dist. Steven Mahan, Director, Dept. of Admin., Community Development Grants Admin. Mike Daun, Deputy Comptroller Craig Kammholz, Director of Financial Services, Comptroller's Office Garry Werra, Dept. of Admin., Community Development Grants Admin. Leo Ries, Executive Director, Local Initiatives Support Corporation (LISC) Paul Henningsen, Volunteer board member Ald. Witkowski moved that this resolution be amended by rewording the "Further Resolved clause" to read as follows: "Further Resolved, That this directive shall remain in effect until the City Comptroller completes a financial audit of the West Pointe project and/or the Common Council rescinds this resolution." This change would give the Common Council the opportunity to rescind this resolution at any time.	Pass	3:0
6/23/2008	1	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	3:0
6/17/2008	0	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
6/17/2008	0	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
6/10/2008	0	COMMON COUNCIL	ASSIGNED TO

Number
080293
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. BAUMAN
Title
Substitute resolution relating to public funding for the West Pointe condominium project, 2632 W. Wells Street.
Analysis
This resolution directs all City departments and officials, including but not limited to the Community Development Grants Administration Division-Department of Administration and the Department of City Development, to cease providing any public funding, including loans, grants or equity, to the West End Development Corporation or its subsidiary, West Pointe LLC, for the West Pointe condominium project, a mixed-use commercial and condominium development located at 2632 W. Wells Street. This directive shall remain in effect until the City Comptroller completes a financial audit of the West Pointe project and/or the Common Council rescinds this resolution.
Body
Whereas, The West End Development Corporation and its subsidiary, West Pointe LLC, have been redeveloping the existing mixed-use building (commercial and rental apartments) at 2632 W. Wells Street into a mixed commercial/condominium project known as “West Pointe”; and

Whereas, West Pointe, which would have retail uses on the ground floor and 14 condominium units (11 affordable, 3 market-rate) on the upper floors, was initially envisioned as a model project demonstrating the potential for converting rental housing into affordable owner-occupied housing, thereby offering home ownership opportunities to renter households with moderate incomes; and

Whereas, After working on this project for 6 years, West End Development Corporation and West Pointe LLC have neither completed rehabilitation of the building nor sold a single condominium unit within it; and

Whereas, On April 8, 2008, Ald. Robert Bauman sent a letter to the City Comptroller requesting a financial audit of the West Pointe project; and

Whereas, It is not in the best interests of the City of Milwaukee and its taxpayers to provide additional public f...