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Resolution approving the terms & conditions for an Economic Development Loan to Moo Inc., d/b/a The Lapham and/or assigns, for the properties located at 1603 S. 81 St., 16**S. 82 St. and 16** S. 81 St., under the Department of Housing and Urban Development Community Development Block Grant Program in an amount not to exceed $67,375
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WHEREAS, Ryan Oschmann, Managing Partner of Moo Inc., d/b/a The Lapham and/or assigns, a limited liability corporation created under the laws of Wisconsin has applied for a loan from the City of West Allis in the amount of Sixty Seven Thousand Three Hundred and Seventy Five and 00/100 Dollars ($67,375), under the Department of Housing and Urban Development Community Development Block Grant Program, for the purpose of acquisition of the property at 1603 S. 81 St., 16**S. 82 St. and 16** S. 81 St. for the establishment of The Lapham Restaurant; and,
WHEREAS, the Department of Development has reviewed the loan request from Ryan Oschmann, Managing Partner of Moo Inc., d/b/a The Lapham and/or assigns, for the purpose of acquisition of the property at 1603 S. 81 St., 16**S. 82 St. and 16** S. 81 St. for purposes of establishing a restaurant, The Lapham and has determined that the Project is eligible for funding under the Community Development Block Grant guidelines; and,
WHEREAS, the Department of Development has recommended approval of a Community Development Block Grant funded loan for the purpose of completing the Project; and,
WHEREAS, the Economic Development Loan Task Force met on November 1, 2019, to consider the loan application and recommended approval of this Economic Development Loan application.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that it hereby approves the terms and conditions of the Loan in an amount not to exceed Sixty Seven Thousand Three Hundred and Seventy-Five and 00/100 Dollars ($67,375), to Moo Inc., d/b/a The Lapham and/or assigns, in accordance with the term...
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