Number
171129
Version
SUBSTITUTE 1
Reference
121715, 150493
Sponsor
ALD. JOHNSON AND BOHL
Title
Substitute resolution relating to amending an agreement between the City of Milwaukee and Veterans Gardens, LLC.
Analysis
This substitute resolution amends a previously executed Payment in Lieu of Taxes agreement between the City of Milwaukee and Veterans Gardens, LLC.
Body
Whereas, File No. 121715, adopted by the Common Council of the City of Milwaukee (“Common Council”) on April 9, 2013, authorized an agreement for sale (“Sale Agreement”) regarding the sale of four tax foreclosed properties (“Properties”) to Veterans Gardens, LLC (“Veterans Gardens”), for development of supportive housing for veterans; and
Whereas, Veterans Gardens is an LLC created by the Center for Veterans Issues, LTD solely for the purpose of purchasing and renovating the Properties located at 7829-31 West Villard Avenue and 8905-11 West Villard Avenue, in the 2nd Aldermanic District, and 4483-93 North 84th Street, in the 5th Aldermanic District; and
Whereas, The City of Milwaukee (“City”) conveyed the Properties to Veterans Gardens by Quit Claim Deed and Restrictive Covenants (“Deed”) dated December 11, 2014 and recorded at the Milwaukee County Register of Deeds Office on December 17, 2014 as Document No. 10420636; and
Whereas, File No. 150493, adopted by the Common Council on September 22, 2015, authorized the City to modify its agreement with Veterans Gardens and release its restrictive covenant prohibiting request for tax prohibition to comply with grant requirements from the U.S. Department of Housing and Urban Development (“HUD”); and
Whereas, File No. 150493 also allowed the City to execute a Payment in Lieu of Taxes (“PILOT”) agreement with Veterans Gardens dated September 29, 2015 and recorded at the Milwaukee County Register of Deeds Office as Document No. 15010202; and
Whereas, Due to additional HUD grant requirements, Veterans Gardens, with the authorization of the Cit...
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