Title
Resolution to authorize participation in the Wisconsin Ready for Reuse Brownfields Loan Program for property located at 9508 W. Greenfield Ave.
Body
WHEREAS, the Community Development Authority of the City of West Allis ("Authority") has approved on April 11, 2006 under Resolution No. 607 a Wisconsin Ready for Reuse Brownfield Program ("Program") Loan application ("Loan") for the property at 9508 W. Greenfield Ave., for Dorothy G. Inc.,("Owner"); and,
WHEREAS, the owner is seeking a $350,000 loan from the program; and,
WHEREAS, the Loan program will require the City of West Allis to distribute loan funds to the property owner to assist with site investigation and environmental remediation; and,
WHEREAS, the loan funds will be secured to the City with Dry Cleaner Environmental Response Fund (DERF) Program reimbursements; and,
WHEREAS, the City will maintain records documenting all expenditures made during the Ready for Reuse Loan period; and,
WHEREAS, the City will allow employees from Wisconsin Department of Natural Resources access to inspect the loan records; and,
WHEREAS, the City will proceed to develop a cooperation agreement with the property owner to protect the City's interest relative to the loan; and,
WHEREAS, the Owner will reimburse the City for all cost incurred for the administration of the loan.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of West Allis authorizes participation in the Wisconsin Ready for Reuse Brownfields Loan Program for property located at 9508 W. Greenfield Ave., Dorothy G. Inc., owner.
BE IT FURTHER RESOLVED that the Director of Development and the City Attorney are directed to prepare a cooperation agreement between the City and Dorothy G. Inc.
cc: Department of Development
Dev-R-439dlm\9-19-06