Title
Resolution to approve the Cooperation Agreement for Tax Incremental District Number Fourteen (68th and Mitchell), City of West Allis, Wisconsin.
Body
WHEREAS, the City of West Allis and the Community Development Authority of the City of West Allis are desirous of redeveloping the area generally described as 68th and Mitchell; and,
WHEREAS, the City of West Allis has created Tax Incremental District Number Fourteen to pay for the costs of such improvements; and,
WHEREAS, the Community Development Authority of the City of West Allis has authorized the redevelopment project in the amount of Four Million Ninety-Two Thousand and Two Hundred Sixty Dollars ($4,092,260) to be funded by revenue from property sales and borrowed funds through an obligation note in the amount of Three Million One Hundred Fifty-Four Thousand and Forty-Seven Dollars ($3,154,047).
NOW THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that the Cooperation Agreement for the 68th and Mitchell project between the City of West Allis and the Community Development Authority of the City of West Allis, a copy of which Agreement is attached hereto and made part hereof, is hereby approved.
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, 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 the 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.
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