Title
Resolution approving the termination and release of the Development Agreement between the City of West Allis and CenterPoint Properties Trust, relative to the property located at 6736 W. Washington St.
Body
WHEREAS, on September 30, 1998 and disclosed by a Memorandum of Agreement recorded on October 5, 1998 as Document No. 7610251 in the Register's Office of Milwaukee County, Wisconsin, a Development Agreement between the City of West Allis and CenterPoint Realty Services Corporation wherein the parties had set forth the terms, conditions and restrictions governing the sale; purchase, development and use of certain lands located in the City of West Allis, Milwaukee County, State of Wisconsin, legally described on Exhibit A; and,
WHEREAS, CenterPoint Properties Trust is in compliance with the Development Agreement and is currently under contract to sell the property, and the original terms, conditions and restrictions governing the development and use of certain lands located at 6736 W. Washington St. are no longer necessary.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that the termination and release of the Development Agreement between the City of West Allis and CenterPoint Properties Trust, relative to property located at 6736 W. Washington St. (Tax Key No. 439-0001-027) is hereby approved.
BE IT FURTHER RESOLVED that the attached document between the City of West Allis and CenterPoint Properties Trust, be and is hereby approved by the Common Council and shall be recorded with the Milwaukee County Register of Deeds.
BE IT FURTHER RESOLVED that the Director of Development is hereby authorized to act on behalf of the City of West Allis for said documents, execute and take necessary action, and to undertake, direct and complete activities.
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.
cc: Department of Development
DEV-R-794-2-17-15