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| | | | NOTE: If action is taken on the following files, they may be referred to the Common Council for action at its regular meeting to be held at 9:00 A.M. on Tuesday, November 3, 2009. | | | |
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| | | | Meeting commenced at 8:21 a.m. | | | |
Roll call
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090805
| 1 | 1. | Resolution | Substitute resolution approving the terms of a Cooperation and Development Agreement for the property located at 700 East Kilbourn Avenue, in the 4th Aldermanic District.
Minutes note: Individuals appearing:
Rocky Marcoux, Commissioner, Department of City Development
Allison Rozek, Department of City Development
Michael Daun, Office of the Comptroller
Craig Kammholz, Office of the Comptroller
Mr. Daun said that he believes the Comptroller's report on the project will be ready by the next committee meeting.
Ald. Bauman moves to hold to the call of the chair. Prevailed 4-0. (Ald. Zielinski excused) | HELD TO CALL OF THE CHAIR | Pass | 4:0 |
Action details
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090687
| 0 | 2. | Resolution | Substitute resolution authorizing additional funding for Tax Incremental District No. 48, Park East, and approving the terms of a Development Agreement for the property located at 1141 North Old World Third Street, in the 4th Aldermanic District.
Minutes note: Ald. Wade moves to accept Proposed Sub A. Prevailed 4-0. (Ald. Zielinski excused) | SUBSTITUTED | Pass | 4:0 |
Action details
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| | | | Attendance taken at 8:31 a.m | | | |
Roll call
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090687
| 1 | | Resolution | Substitute resolution authorizing additional funding for Tax Incremental District No. 48, Park East, and approving the terms of a Development Agreement for the property located at 1141 North Old World Third Street, in the 4th Aldermanic District.
Minutes note: Individuals appearing:
Rocky Marcoux, Commissioner, Department of City Development
Michael Daun, Office of the Comptroller
Craig Kammholz, Office of the Comptroller
James Scherer, Department of City Development
Rick Barrett, Developer
Mr. Marcoux addresses the concerns of the alderman that were raised at the previous committee meeting and passes out a new letter from the Department of City Development.
Mr. Scherer passes out a new term sheet dated November 3, 2009.
Mr. Marcoux says that the developer has met all the requirements that the city has outlined.
Ald. Zielinski at the table at 8:31 a.m.
Ald. Murphy asks about the default concerns that he previously raised. Mr. Daun reviews the default scenarios that were detailed by the Comptroller's office in a letter previously submitted to committee members.
Ald. Murphy points out that there will be a tax base when the project is finished, which will help the Park East area, most of the workers employed on the project will be city residents, and there will be job creation. He also says that the committee's primary obligation is to protect the taxpayers.
Ald. Bauman says he is prepared to support the project
Adoption by Ald. Bauman. Prevailed 5-0. | RECOMMENDED FOR ADOPTION | Pass | 5:0 |
Action details
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| | | | Meeting adjourned at 8:41 a.m.
Staff Assistant Tobie Black | | | |
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