Title
Resolution approving an Assignment Agreement by and between the City of West Allis and Dorothy G., Inc., d/b/a Redi Quick Dry Cleaners, for the property located at 9508-10 W. Greenfield Ave.
Body
WHEREAS, Dorothy G., Inc., a corporation created under the laws of Wisconsin, has applied for a loan from the Wisconsin Ready for Reuse Brownfield Program (“Program”) in the amount of $150,000 for the purpose of conducting site investigation and environmental remediation; and,
WHEREAS, the Authority of the City of West Allis on April 11, 2006 under Resolution No. 607 and the Common Council of the City of West Allis on September 19, 2006 under Resolution No. R-2006-0258 approved the endorsement of Dorothy G., Inc.'s application and approved participation in the Program; and,
WHEREAS, the Wisconsin Department of Natural Resources has approved Dorothy G., Inc., for a loan under the Wisconsin Ready for Reuse Brownfield Program (RFR); and,
WHEREAS, pursuant to the RFR Program, the City will enter into a Loan Agreement hereby attached as Exhibit A between the City of West Allis and the Wisconsin Department of Natural Resources in which loan funds are transferred through the City for remediation activities to be contracted by Dorothy G., Inc., for the property; and,
WHEREAS, under this Agreement the Dorothy G. hereby assigns to the City any and all rights Dorothy G. may have to reimbursement under the Wisconsin Drycleaner Environmental Response Program pursuant to Wisconsin Statutes section 292.65 and Wisconsin Administrative Code Chapter 169., and this assignment is made by Dorothy G. and shall be binding upon its heirs, personal representatives, successors and assigns; and,
WHEREAS, the City , on __________, 2007 entered into a Recapture Agreement by and between the City and Dorothy G., attached and incorporated herein as Exhibit B by reference, as security in the event Dorothy G. defaults on its agreement to reimburse the City of all Loan f...
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