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Resolution approving a Redevelopment Loan Fund forgivable loan application from Midwest Institutional Trust Company related to tenant space located at 10700 W Research Drive
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WHEREAS, the Midwest Institutional Trust Company (MITC) has applied for a Wauwatosa Revolving Loan Fund Corporation loan, as well as a City of Wauwatosa Redevelopment Fund forgivable loan in the amount of $50,000 for at 10700 W. Research Drive;
NOW THEREFORE, BE IT RESOLVED, by the Common Council of the City of Wauwatosa that a forgivable loan in the amount of $50,000, payable from the Redevelopment Reserve, be approved for MITC, with terms and conditions as described to the Committee on Financial Affairs at its meeting of December 12, 2023.
By: Financial Affairs Committee
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Recommendation: Approve 8-0
The Common Council may move to convene into closed session for this item pursuant to Wis. Stat. §19.85(1)(e), Wis. Stats., for the purpose of deliberating or negotiating the purchasing of public properties, the investing of public funds, or conducting other specified public business, whenever competitive or bargaining reasons require a closed session. The Common Council may reconvene into open session to consider the balance of the agenda.