Title
Resolution relative to approving a Management Agreement and Maintenance Agreement with Beloit Road Senior Apartments, LLC for the management and maintenance of the Beloit Road Senior Housing Complex located in the area of W. Beloit Rd. & S. 72 St.
Body
WHEREAS, since the 1940's, the City of West Allis (the “City”) has owned and operated the Beloit Road Senior Housing Complex, located at 7205-7333 W. Beloit Rd., 2521-2529 S. 72 St., 7216-7312 W. Dreyer Place and 7211-7341 W. Dreyer Place (the “Property”) and has offered units as an affordable housing option for senior members of the community by collecting rent payments at 30% of an individual's income; and,
WHEREAS, under Resolution R-2011-0193, the Common Council authorized the renovation project of the Beloit Road Senior Housing Complex; and,
WHEREAS, the City of West Allis through the Community Development Authority of the City of West Allis (the “Authority”) will remain involved in the management and ownership structure of the Section 42 tax credit Beloit Road Senior Housing Complex project; and,
WHEREAS, the Authority will remain involved in the management and ownership structure of the Section 42 tax credit Beloit Road Senior Housing Complex project as the Managing Member of Beloit Road Senior Apartments, LLC (the "Owner"); and,
WHEREAS, the Project will have Management and Maintenance Agreements that are by and between the City of West Allis and Beloit Road Senior Apartments, LLC; and,
WHEREAS, the City Attorney is hereby directed to prepare all necessary Agreements to provide management and maintenance services for Beloit Road Senior Apartments, LLC.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that it hereby authorizes and approves a Management Agreement and Maintenance Agreement by and between the City of West Allis and Beloit Road Senior Apartments, LLC for providing management and maintenance services to the Beloit Road Senior Housing...
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