Number
130271
Version
SUBSTITUTE 1
Reference
080641
Sponsor
ALD. WITKOWSKI
Title
Substitute resolution authorizing a Development Agreement with L&R Group of Companies, Inc., for the property at 4747 South Howell Avenue, in the 13th Aldermanic District.
Analysis
This substitute resolution authorizes the City of Milwaukee and L&R Group of Companies, Inc. to enter into a Development Agreement for the property at 4747 South Howell Avenue.
Body
Whereas, L&R Group of Companies, Inc. ("L&R") owns the property at 4747 South Howell Avenue ("Property") and proposes to develop the Property with a mix of parking, hotel, retail and restaurant uses; and
Whereas, The City of Milwaukee ("City") wishes to see development of 4747 South Howell Avenue that is consistent with the Southeast Side Area Comprehensive Plan that was approved by Common Council File No. 080641 on October 29, 2008; and
Whereas, To further the goals of each party for the future development of the Property, the City and L&R wish to enter into a Development Agreement with terms substantially in accordance with the Term Sheet, a copy of which is attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the proper City officials are directed to execute a Development Agreement with L&R Group of Companies, Inc., with terms substantially in accordance with said Term Sheet; and, be it
Further Resolved, That the proper City officials, in consultation with the City Attorney's office, are authorized to make non-substantive changes to the Development Agreement without further Common Council action as necessary to achieve the intent of the City's action; and, be it
Further Resolved, That the proper City officials are directed to execute any additional documents and instruments necessary to carry out the provisions of the Development Agreement.
Drafter
DCD:DAC:dac
06/19/13