Title
Resolution to approve a Second Amendment to the Development Agreement by and between GG 003 LLC, and the City of West Allis regarding the property located at 7030 W. National Avenue and 15** S. 71 St.
Body
WHEREAS, the Common Council adopted Resolution # R-2020-0446 in which it approved a Development Agreement by and between GG 003, LLC, a Wisconsin limited liability company ("Developer") and the City of West Allis for over a $4 million development consisting of a 17,800 multi-tenant dental and medical office building and 45 surface parking spaces; and,
WHEREAS, the Common Council adopted Resolution # R-2020-0589, which approved additional financial assistance in the amount up to $95,000 for unanticipated winter construction costs related to the same Development Agreement by and between GG 003, LLC and the City of West Allis; and,
WHEREAS, subject to the Milwaukee County Board's approval of File: 20-551 on November 5, 2020, an agreement with Dr. Max Meinerz doing business as Ascendent Health for the cancellation of a portion of the delinquent real property taxes for the property located at 7030 West National Avenue, West Allis, Wisconsin, and the adjacent parking lot less a contribution of $157,161.74, in accordance with Section 75.105(2), Wisconsin State Statutes; and,
WHEREAS, the Development Department is requesting additional financing for the payment of the 2019 property tax bill in the amount of approximately $12,487.25 to be funded from Tax Increment Financing District No. 7 Summit Place (307-6308-563-3102 Project:T07061); and,
WHEREAS, Tax Increment Financing District No. 7 Summit Place had already financed $165,542.97 for demolition of the former Expert Auto building that was located on the property, however that amount has been placed on the 2019 Property Tax bill; and,
WHEREAS, upon the advice to the City Attorney, to satisfy the tax bill and not hold up the Closing on the 7030 W. National Avenue and 15** S. 71 St. properties the Inte...
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