Title
Resolution to approve the Development Agreement by and between the Community Development Authority of the City of West Allis and Ramco Gershenson Properties, L.P.
Body
WHEREAS the Community Development Authority of West Allis (the "Authority ") is interested in improving the egress and ingress to the Summit Place Office Complex through the abutting retail center located at 6700-38 W. Greenfield Ave., 6740-6800 W. Greenfield Ave., 6822-52 and 6900 W. Greenfield Ave. (Tax Key Nos. 439-0001-014, 439-0001-008 and 439-0001-007) in the City of West Allis, Milwaukee County, Wisconsin (the "Property"); and,
WHEREAS Ramco Gershenson Properties, L.P. (the "Developer') is the fee simple owner of approximately 23 acres of land and improvements commonly referred to as the West Allis Towne Centre; and,
WHEREAS the Authority will provide up to $1.5 million in financial assistance to the Developer funded by Tax Increment District Number Seven - Summit Place Office Complex for the construction of the new ingress and egress, pedestrian amenities and improvements aligning a new roadway that provides linkages to W. Greenfield Avenue; and,
WHEREAS the Authority, by Resloution No.758, adopted April 14, 2009, approved a Development Agreement by and between the Community Development Authority of the City of West Allis and Ramco Gershenson Properties, L.P.; and,
WHEREAS the Authority and the Developer have set forth in writing terms and conditions under the Development Agreement hereby attached as Exhibit A; and,
WHEREAS the Development Agreement outlines public participation in the Towne Centre retail enhancement, quality of the project, and the overall retail phasing relative to establishing the future incremental value for the Property.
NOW, THEREFORE BE IT RESOLVED by the Common council of the City of West Allis, that it hereby approves the Development Agreement by and between the Community Development Authority of the City of West Allis and Ramco Gershenson Properties, L.P.
BE IT FURTHER RESOLVED that the City of West Allis by its Director of Development, be and is hereby authorized and directed to execute and deliver the Development Agreement on behalf of the City of West Allis
BE IT FURTHER RESOLVED the City Attorney be and hereby authorized to make 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 up to $1.5 million be allocated from Tax Increment Financing District Number Seven - Summit Place Office Complex.
cc: Department of Development
DEV-R-547-4-21-09