Title
Resolution amending the allocation of funds under the Development Agreement by and between the City of West Allis and Edward and Penny Wistl, d/b/a Wistl Management for the property located at 7200-06 W. Greenfield Ave. and 1375 S. 72 St.
Body
WHEREAS, the Common Council of the City of West Allis approved Resolution R-2004-0344 on December 21, 2004 for a Development Agreement (“Agreement”) by and between the City of West Allis and Edward and Penny Wistl d/b/a Wistl Management for the property located at 7200-06 W. Greenfield Ave. and 1375 S. 72 St.; and,
WHEREAS, since the rehabilitation of the property posed economic challenges, the Department of Development worked with the property owner and developer on a financial assistance package that included Community Development Block Grant (CDBG) funds and HOME funds; and,
WHEREAS, the City has a program balance of HOME funds to be utilized for affordable housing projects; and,
WHEREAS, the City has limited CDBG funds for community projects; and,
WHEREAS, in order to better appropriate funds, the Department of Development recommends amending the Agreement to reallocate the approved $50,000 Commercial Facade Improvement Grant provided to the project and funded with CDBG funds with a $50,000 HOME grant funded with HOME program funds.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis, that it hereby amends the Agreement to provide a $50,000 HOME grant funded with HOME funds and hereby rescinds the $50,000 Commercial Facade Improvement Grant previously approved.
BE IT FURTHER RESOLVED that the Director of Development be and is hereby authorized to execute and deliver the Agreement on behalf of the City of West Allis.
BE IT FURTHER RESOLVED that the City Attorney be and is hereby authorized to make such non-substantive changes, modifications, additions and deletions to and from the various provisions of the Agreement, including any and all attachments, exhib...
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