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File #: 161577    Version:
Type: Resolution Status: Passed
File created: 3/1/2017 In control: COMMON COUNCIL
On agenda: Final action: 3/28/2017
Effective date:    
Title: Substitute resolution approving the First Amendment to Development Agreement for the Mitchell Street Library Project.
Sponsors: THE CHAIR
Indexes: AGREEMENTS, LIBRARIES, MILWAUKEE PUBLIC LIBRARY
Attachments: 1. First_Amendment_to_Development_Agreement
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
4/3/20171 MAYOR SIGNED   Action details Meeting details Not available
3/28/20171 COMMON COUNCIL ADOPTEDPass15:0 Action details Meeting details Not available
3/8/20170 PUBLIC WORKS COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Atty. Mary Schanning - City Attoney's Office Sam McGovern-Rowan - Library Ted Mackum - Gorman & Company Inc
Pass5:0 Action details Meeting details Video Video
3/1/20170 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
161577
Version
SUBSTITUTE 1

Sponsor
THE CHAIR

Title
Substitute resolution approving the First Amendment to Development Agreement for the Mitchell Street Library Project.
Analysis
This resolution approves the First Amendment to Development Agreement for the Mitchell Street Library branch in order to accommodate scheduling adjustments with the developer.
Body
Whereas, By passage of Ordinance File No. 151852 on May 24, 2016, the Common Council of the City of Milwaukee authorized a $5.3 million loan and the execution of a development agreement and other development-related documents among the City, the Milwaukee Public Library (“MPL”) and Gorman & Company, Inc. (“Developer”) for a development project that includes a new Milwaukee Public Library branch at 906-910 West Mitchell Street; and

Whereas, The original development agreement required the Developer to complete all work on the shell of the Library unit of the building by December 31, 2016, and upon such completion would trigger the payment to Developer of the remaining $4.5 million in loan funds being provided by the City; and

Whereas, The First Amendment to Development Agreement amends the deadline for Gorman to substantially complete the library shell to June 1, 2017 so the work can be coordinated with MPL’s work on the interior build-out; and

Whereas, The First Amendment to Development Agreement allows the City’s remaining loan funds to be paid into the transaction immediately so MPL can begin to pay its contractors for MPL’s work on the interior of the Library unit before Developer has completed all shell work; and

Whereas, The original development agreement required City to complete parking lot improvements adjacent to the project in exchange for a payment made by Developer to City for the parking lot land and improvements, however, it is now anticipated that Developer may complete those parking lot improvements; and

Whereas, The First Amendment to Development Agreement allows Dev...

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