Title
Resolution to approve a $200,000 U.S. EPA Brownfield Revolving Loan to DJE Enterprises, LLC for the redevelopment of the property located at 1900 S. 76th St.
Body
WHEREAS, the City of West Allis ("City") received a $1,000,000 Brownfields Cleanup Revolving Loan Fund ("RLF") Grant for Hazardous Substance and Petroleum Contaminated Sites in 2011; and,
WHEREAS, the City and Community Development Authority of the City of West Allis ("CDA") has identified the 1900 S. 76th Street (the "Property") site as a candidate for an RLF Loan due to known environmental contamination and required cleanup; and,
WHEREAS, DJE Enterprises, LLC (the "Developer") will be acquiring the Property for the development at 1900 S. 76th Street, a former dry cleaner, and will be eligible for the RLF Loan; and,
WHEREAS, the City has offered a $200,000 RLF to the development remediation on the Property; and,
WHEREAS, the Developer is required to fund all EPA RLF related expenses upfront, and will then be reimbursed by the City of West Allis; and,
WHEREAS, the Developer is required to provide a 20% match to the project and adhere to all necessary federal provisions.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that it hereby approves a Two Hundred Thousand Dollar ($200,000) U.S. EPA Brownfield Revolving Loan to DJE Enterprises, LLC for the property located at 1900 S. 76th St., in accordance with the terms and conditions outlined in the commitment letter.
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 various provisions of any and all U.S. EPA Revolving Loan Fund Subgrant-related documents between the Community Development Authority, City of West Allis, and/or any other documents as may be necessary and proper to correct inconsistencies, eliminate ambiguity, and otherwise clarify and supplement said provisions to preserve and maint...
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