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File #: 211682    Version:
Type: Resolution Status: Passed
File created: 2/8/2022 In control: COMMON COUNCIL
On agenda: Final action: 3/1/2022
Effective date:    
Title: Substitute resolution amending Common Council File Number 201573, a resolution relating to redevelopment of the property at 909 East Michigan Street for the Couture Project.
Sponsors: ALD. BAUMAN
Indexes: LAKEFRONT DEVELOPMENT
Attachments: 1. Equity Impact Statement, 2. City Attorney Response, 3. Hearing Notice List, 4. Statement from Mayor, 5. Amend #1 Restated Development Agreement
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
3/8/20221 MAYOR SIGNED   Action details Meeting details Not available
3/1/20221 COMMON COUNCIL ADOPTEDPass14:0 Action details Meeting details Not available
2/22/20220 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE SUBSTITUTED

Minutes note: Ald. Bauman moved substitution of the file with Proposed Substitute A. (Prevailed 5-0)
Pass5:0 Action details Meeting details Video Video
2/22/20221 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Appearing: Tearman Spencer, City Attorney
Pass4:0 Action details Meeting details Not available
2/8/20220 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
211682
Version
SUBSTITUTE 1
Reference
201573
Sponsor
ALD. BAUMAN
Title
Substitute resolution amending Common Council File Number 201573, a resolution relating to redevelopment of the property at 909 East Michigan Street for the Couture Project.
Analysis
This resolution rescinds the 5 “Further Resolved” clauses of Common Council File Number 201573 relating to special counsel review of the Common Council’s actions adopting an amendment to the Amended and Restated Cooperation, Contribution, and Redevelopment Agreement for the Couture Project requiring the developer to make a $100,000 contribution to the Anti-Displacement Fund. Specifically, this resolution removes the provision requiring that the contribution be held in escrow by the developer until an outside counsel, selected by the Common Council President and the City Attorney, is able to determine whether the amendment requiring the contribution was adopted in a manner consistent with law. This resolution further approves an amendment to the Couture development agreement striking the requirement for a contribution to the Anti-Displacement Fund and authorizes return of the escrowed funds to the Developer.
Body
Resolved, By the Common Council of the City of Milwaukee, that the first, second, third, fourth and fifth “Further Resolved” clauses of Common Council File Number 201573, a resolution relating to the Amended and Restated Cooperation, Contribution, and Redevelopment Agreement as well as personal guaranties for the redevelopment of the property at 909 East Michigan Street for the Couture Project (Redevelopment Agreement), are rescinded; and, be it

Further Resolved, That the Common Council approves an amendment to the Redevelopment Agreement striking the following language from Section 13.4: “and in exchange for a contribution to the Anti-Displacement Fund administered by MKE United in the amount of One Hundred Thousand Dollars ($100,000.00) payable by the DEVELOPER’S principals Rick Ba...

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