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Resolution approving contract with Prism Technical for the creation and monitoring of a Procurement Equity Participation Plan for the Barrett Lo Visionary Development multi-unit residential proposal in the amount of $227,585
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WHEREAS, the City of Wauwatosa received an application from Barrett Lo for financial assistance through Tax Increment Financing (TIF) to assist with financing a portion of the eligible costs rlated to the construction of the apartment complex at Mayfair Mall and the proposed term sheet requires that the developer hire or sub-contracts with a firm registered as a Disadvantaged Business Enterprises with Milwaukee County or the State Department of Transportation and the city does not have the capacity or technical knowledge to fulfill that requirement;
WHEREAS, the city requested proposals for this project, Prism Technical was the sole respondent, and the city has worked with Prism Technical on previous jobs;
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Wauwatosa that the city enter into a contract with Prism Technical and a Level Three fund transfer be established for a budget for the contract to be paid with TIF 15 funds.
By: Financial Affairs Committee
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Recommendation: Approve 6-1