Number
011165
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. HENNINGSEN
Title
Substitute resolution approving the Tenth Amendment to the Riverwalk Development Agreement for Business Improvement District No. 15.
Analysis
This substitute resolution approves a tenth amendment to the Riverwalk Development Agreement for Business Improvement District No. 15. Under this amendment the City will provide additional funding to cover the cost of back-up safety operating systems for the Highland Avenue Pedestrian Bridge. These safety systems were not originally included in the bridge's design. Other lift bridges in the City already have similar safety devices. It is desirable for all City lift bridges to have the same safety back-up systems. Therefore, it has been determined that certain safety back-up systems should be added to the Highland Avenue Pedestrian Bridge. The addition of these safety systems is expected to cost $62,000. This figure includes actual construction costs and soft costs. The total cost will be split between capital budgets within the Department of Public Works (the Capital Bridge Parent Account) and the Department of City Development (the Development Fund Account).
Body
Whereas, The City of Milwaukee (“City”) and the Board of Business Improvement District No. 15 (“Board”) (“BID No. 15”) entered into a Riverwalk Development Agreement for BID No. 15 dated May 23, 1994 (“Development Agreement”); and
Whereas, The City and the Board have entered into nine previous amendments to this Development Agreement; and
Whereas, The City and the Board now desire to enter into this Tenth Amendment to the Development Agreement to add certain operational safety systems to the Highland Avenue Pedestrian Bridge; and
Whereas, The cost to add the operational safety systems to the bridge is expected to be $62,000; and
Whereas, Funds for this work will come from the Department of Public Works' Capital Bridge Parent Account ($31,000) and from th...
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