City of West Allis - File #: R-2006-0265

• File #: R-2006-0265
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 10/3/2006
• In control: Common Council
• Final action: 10/3/2006
• Title: Initial Resolution authorizing $1,200,000 General Obligation Pledge of the City of West Allis for a Wisconsin Department of Natural Resources Ready for Reuse Loan for the former Pressed Steel Tank property within the Six Points/Farmers Market Redevelopment Area.

Date	Ver.	Action By	Action	Result
10/3/2006	1	Common Council
10/3/2006	1	Common Council	Adopted	Pass
10/3/2006	1	Administration and Finance Committee (INACTIVE)		Pass

Title

Initial Resolution authorizing $1,200,000 General Obligation Pledge of the City of West Allis for a Wisconsin Department of Natural Resources Ready for Reuse Loan for the former Pressed Steel Tank property within the Six Points/Farmers Market Redevelopment Area.  

Body

BE IT RESOLVED that the City of West Allis, Milwaukee County, Wisconsin, borrow an amount not to exceed $1,200,000 through the Wisconsin Department of Natural Resources Ready for Reuse Loan Program for the public purpose of financing demolition and environmental remediation of the former Pressed Steel Tank property.

BE IT FURTHER RESOLVED that the debt service for the 0% loan will be paid by tax increment generated by the redevelopment within the Six Points/Farmers Market Redevelopment Area and Tax Incremental District Number Five.

cc:  Development Dept.

Dev-R-441\10-3-06\bjb