City of Milwaukee - File #: 100615

• File #: 100615
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 9/21/2010
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 10/12/2010
• Title: Substitute resolution authorizing a Riverwalk Development Agreement and an expenditure for construction of a Riverwalk segment adjoining the property at 306 East Pleasant Street, in the 6th Aldermanic District.
• Sponsors: ALD. COGGS
• Indexes: AGREEMENTS, RIVERWALKS

Date	Ver.	Action By	Action	Result	Tally
10/21/2010	1	MAYOR	SIGNED
10/12/2010	1	COMMON COUNCIL	ADOPTED	Pass	14:0
10/5/2010	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals present: Alyssa Remington - Dept. of City Development Ald. Milele Coggs Gary Grunau and Sig Stromond - co-developers	Pass	4:0
9/28/2010	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/21/2010	0	COMMON COUNCIL	ASSIGNED TO

Number
100615
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. COGGS
Title
Substitute resolution authorizing a Riverwalk Development Agreement and an expenditure for construction of a Riverwalk segment adjoining the property at 306 East Pleasant Street, in the 6th Aldermanic District.
Analysis
This resolution directs the City of Milwaukee to enter into a Riverwalk Development Agreement with Pleasant & Commerce, Inc., and the Redevelopment Authority of the City Milwaukee to share in the total cost of constructing the riverwalk improvement with funds provided from TID No. 22.
Body
Whereas, Pleasant & Commerce, Inc., the owner/developer (“Developer”) of the property located at 306 E Pleasant Street (“Property”) desires to construct a riverwalk along the Milwaukee River and adjacent to the Property (“Riverwalk”); and

Whereas, The Developer is willing to construct, maintain and repair the Riverwalk; and

Whereas, The City of Milwaukee (“City”) is willing to provide the Developer with certain funds from Tax Incremental District (“TID”) No. 22 (Beerline B), not to exceed $1,081,765.00, to finance 70 percent of the cost of constructing the Riverwalk, 50 percent of the cost of the dockwall and 100 percent of the cost of the connections to the public right of way; and

Whereas, In consideration of City reimbursement for a portion of the construction cost of the Riverwalk, the Developer is willing to convey a non-exclusive, permanent, public-access easement to the City; and

Whereas, The City has been requested to execute and deliver that certain Riverwalk Development Agreement by and among the Developer, the Redevelopment Authority of the City of Milwaukee (“RACM”) and the City substantially in the form as submitted herewith to evidence the agreements therein contained; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the proper City officials are directed to execute a Riverwalk Development Agreement, a copy of which is attached...