0391-24
Subject: Communication sponsored by Mayor Mason, seeking to novate the incentive agreements with J. Jeffers & Co., approved by Common Council on March 7, 2023, under Resolution #0200-23, by entering into three separate incentive agreements with J. Jeffers & Co. for Residential Phase IV, Commercial Phase 1, and Commercial Phase 2 of the Belle City Square (Horlick Historic District) Redevelopment at and near 2200 Northwestern Avenue. Recommendation of the Finance and Personnel Committee on 09-23-2024: That the Mayor and City Clerk be authorized and directed to enter into three development incentive agreements with J. Jeffers & Co., for Phase IV of the Belle City Square Redevelopment and execute all necessary documents therein. Fiscal Note: The remaining Utility grants to be paid for C-2 of $500,000 will come from the City Utility surcharge fund. (40101 52420 Redevelopment Assistance). Bridge loan to the developer of $7.5M will be funded by a City borrowing from the Board of Commissioners of Public Lands.
What this record is
- Amount
- $500K
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- contract
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Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Finance and Personnel Committee
- Introduced
- April 26, 2024
- On agenda
- October 15, 2024
- Passed
- October 15, 2024
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