File #: R-2016-0057    Version: 1
Type: Resolution Status: Adopted
File created: 3/1/2016 In control: Safety and Development Committee (INACTIVE)
On agenda: 3/1/2016 Final action: 3/1/2016
Title: Resolution to amend the Cooperation Agreement between the City of West Allis and the Community Development Authority of the City of West Allis for Tax Incremental District Number Eleven (84th & Greenfield), City of West Allis, Wisconsin.
Sponsors: Safety and Development Committee (INACTIVE)
Attachments: 1. Exhibit A - Amended Cooperation Agreement, 2. signed agreement, 3. R-2016-0057 signed resolution
Related files: 2016-0143, R-2016-0056

Title

Resolution to amend the Cooperation Agreement between the City of West Allis and the Community Development Authority of the City of West Allis for Tax Incremental District Number Eleven (84th & Greenfield), City of West Allis, Wisconsin.

 

Body

WHEREAS, the Common Council, by Resolution No. R-2009-0271, on December 15, 2009, approved and adopted the Cooperation Agreement between the City of West Allis and the Community Development Authority of the City of West Allis (the “Authority”); and,

 

WHEREAS, it is necessary to amend the Cooperation Agreement between the City of West Allis and the Authority; and,

 

WHEREAS, the Authority, by Resolution No. 1166, on February 9, 2016, approved Amendment Number One to Tax Incremental District Number Eleven (84th & Greenfield), and by Resolution No. 1167, on February 9, 2016, approved Amendment Number One to the Cooperation Agreement between the City of West Allis and the Authority; and,

 

WHEREAS, the Cooperation Agreement amendment, a copy of which is attached hereto as “Exhibit A” and by reference made a part hereof, includes approximately $7,291,932 in tax incremental financing expenses.

 

NOW, THEREFORE, BE IT RESOLVED by Common Council of the City of West Allis that the Cooperation Agreement for the Tax Incremental District Number Eleven (84th & Greenfield) between the City of West Allis and the Community Development Authority of the City of West Allis be amended to provide for approximately a Seven Million Two Hundred Ninety-One Thousand Nine Hundred Thirty-Two Dollars ($7,291,932) loan for on- and off-site improvements and administrative expenses, and the same is hereby approved, a copy of which is attached hereto as “Exhibit A” and by reference made a part hereof, be and is hereby approved and adopted.

 

BE IT FURTHER RESOLVED that the City Attorney be and is hereby authorized to make such substantive changes, modifications, additions and deletions to and from the various provisions of the Agreement, including any and all attachments, exhibits, addendums and amendments, as may be necessary and proper to correct inconsistencies, eliminate ambiguity and otherwise clarify and supplement said provisions to preserve and maintain the general intent thereof, and to prepare and deliver such other and further documents as may be reasonably necessary to complete the transactions contemplated therein.

 

BE IT FURTHER RESOLVED that the Mayor and City Clerk are hereby authorized and directed to execute and deliver the aforesaid Agreement on behalf of the City.

 

 

 

Attachment:  Exhibit A - Amended Cooperation Agreement

 

 

cc:                     Development Department

                     Finance Department

 

DEV-R-827-3-1-16