Title
Resolution to approve the loan terms & conditions for the Economic Development Loan by and between Bad Charlie, LLC, MB Dining LLC d/b/a The Reunion Restaurant and the City of West Allis for the establishment of a restaurant at 6610 W. Greenfield Ave.
Body
WHEREAS, the City approved the sale of land to Bad Charlie, LLC, MB Dining LLC d/b/a The Reunion Restaurant in April 2020 for the establishment of restaurant called The Reunion; and,
WHEREAS, Chris and Abby Paul, owners and operators, have applied for an Economic Development Loan from the City of West Allis in the amount of One Hundred Thousand Dollars and 00/100 ($100,000) under the Department of Housing and Urban Development Community Development Block Grant program, for the purpose or purchasing equipment and associated start-up costs for the establishment of a restaurant at 6610 W. Greenfield Avenue; 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 December 14, 2020 to consider the loan application and recommended approval of the 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 the amount not to exceed One Hundred Thousand and 00/100 Dollars ($100,000) to Bad Charlie, LLC, MB Dining LLC d/b/a The Reunion Restaurant, in accordance with the terms and conditions outlined in the Commitment Letter attached as Exhibit A hereto and incorporated herein by reference.
BE IT FURTHER REVOLED the City Attorney is hereby authorized to prepare loan documents required by the aforesaid commitment.
BE IT FURTHER RESOLVED that the City Attorney be and is hereby authorized to make such non-substantive changes, modifications, additions and deletions to and from the loan documents, including any and al...
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