Title
Resolution authorizing the Director of Development to submit a financial assistance application which seeks eligibility to participate in the Wisconsin Land Recycling Loan Program for a maximum amount of $7,105,130 to finance possible remediation activities in the Six Points/Farmers Market Redevelopment Area.
Body
WHEREAS, the State of Wisconsin has created a special zero percent (0%) interest loan program to assist municipalities with the environmental cleanup of brownfield sites; and,
WHEREAS, it is the desire of the City of West Allis, Wisconsin, a municipal corporation, (the "City"), to file several applications for state financial assistance under the Wisconsin Environmental Improvement Fund/Land Recycling Loan Program (ss.281.58, 281.60 and 281.61, Wis. Stats.) for possible remediation activities within the Six Points/Farmers Market Redevelopment Area as more specifically described in the attached Exhibit A, which is hereby incorporated herein by this reference; and,
WHEREAS, in order to be eligible to borrow funds through this program, the City of West Allis must first submit a financial assistance application to the Wisconsin Department of Natural Resources; and,
WHEREAS, if the City's financial assistance application is approved, the City has up to one year from the date of approval to borrow these funds; and,
WHEREAS, the Department of Development recommends that the City take advantage of this special loan program if it becomes necessary to undertake environmental cleanup these properties; and,
WHEREAS, it is necessary to designate a representative for filing said applications.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that the Director of Development be and is hereby authorized to prepare and submit financial assistance applications under the Recycling Loan Program for a maximum amount of $7,105,130 to finance remediation activities as described in the attached Exhibit A.
BE IT...
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