Number
110705
Version
SUBSTITUTE 1
Reference
970388
Sponsor
ALD. BAUMAN
Title
Substitute resolution authorizing a Riverwalk Easement Agreement and an expenditure for the Tax Incremental District No. 34 (Historic Third Ward) riverwalk improvement project, in the 4th Aldermanic District.
Analysis
This substitute resolution directs the City of Milwaukee to enter into a Riverwalk Easement Agreement among 252, LLC, and the Redevelopment Authority of the City of Milwaukee to fund the construction of riverwalk improvements and to fund a portion of the cost of dock wall rehabilitation with funds provided from TID No. 34.
Body
Whereas, In 1997, the Common Council of the City of Milwaukee, under File No. 970388, created Tax Incremental District No. 34 ("TID No. 34") for the purpose of facilitating the extension of the City's riverwalk system along the east bank of the Milwaukee River between East Clybourn Street on the north and the intersection of East Pittsburgh Avenue and North Broadway on the south; and
Whereas, An approximately 80-foot wide gap exists in the riverwalk system located adjacent to the properties located at 233 and 239 East Erie Street; and
Whereas, The City of Milwaukee ("City") desires to construct a riverwalk to close the gap in the riverwalk system located adjacent to the properties located at 233 and 239 East Erie Street; and
Whereas, The City's Department of Public Works estimates that it will cost $420,000 to construct the riverwalk and rehabilitate the dock wall; and
Whereas, The property owner at 233 East Erie Street is willing to voluntarily contribute a total of $32,000 to the City's cost of rehabilitating the dock wall; and
Whereas, The property owner at 239 East Erie Street has already conveyed a non-exclusive, permanent, public-access easement to the City; and
Whereas, The property owner at 233 East Erie Street is willing to voluntarily convey a non-exclusive, permanent, public-access easement to the City; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the proper City officials are directed to accept a Public Access Easement, a copy of which is attached to this Common Council File, and that the Commissioner of City Development is directed to sign for acceptance of such easement; and, be it
Further Resolved, That the City shall make available up to $420,000 in funds from TID No. 34 for the costs of constructing the riverwalk improvement.
Drafter
DCD:AER:aer
01/25/12