Title
Resolution to amend the Cooperation Agreement between the City of West Allis and the Community Development Authority of the City of West Allis for Tax Incremental District Number Seven (Summit Place), City of West Allis, Wisconsin.
Body
WHEREAS, the Common Council, by Resolution No. R-2004-0115, adopted April 5, 2004, approved and adopted the Cooperation Agreement between the City of West Allis and the Community Development Authority of the City of West Allis (the "Authority"); and,
WHEREAS, it is necessary to amend the Cooperation Agreement between the City of West Allis and the Authority; and,
WHEREAS, the Authority, by Resolution No. 1195, adopted June 21, 2016, approved Amendment Number Six to Tax Incremental District Number Seven (Summit Place), and by Resolution No. 1196, adopted June 21, 2016, approved as amended an amendment to the Cooperation Agreement between the City of West Allis and the Authority; and,
WHEREAS, the Common Council approved Amendments on November 20, 2007 through Resolution No. R-2007-0281 for an additional $3,500,000, on February 3, 2009 through Resolution No. R-2009-0031 for an additional $1,500,000, on November 3, 2014 through Resolution No. R-2014-0364 for an additional $2,260,000 to Tax Incremental District Number Seven's budget authority; and,
WHEREAS, the Community Development Authority of the City of West Allis has authorized Amendment Number Six of the Project Plan for the purpose of allowing Tax Incremental District Number Seven ("TID 7") to share net revenues with Tax Incremental District Number Five ("TID 5") - Six Points/Farmers Market.
NOW, THEREFORE, BE IT RESOLVED by Common Council of the City of West Allis that the amended Cooperation Agreement for Tax Incremental District Number Seven (Summit Place) between the City of West Allis and the Community Development Authority of the City of West Allis, a copy of which amended Agreement is attached hereto and made part hereof, is hereby approved.
BE IT FURTHER R...
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