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Approval of contract with Prism Technical for the creation and monitoring of a Procurement Equity Participation Plan for the MSP multi-unit residential proposal, in an amount not to exceed $82,344
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Submitted by:
John Ruggini
Department:
Finance Department
A. Issue
The Procurement Equity Policy requires Tax Increment Financing projects include required Disadvantaged Business Enterprise (DBE) and Distressed Zip Code hiring inclusion. A contract with Prism Technical for the creation and monitoring of a Participation Plan to facilitate meeting this policy for the MSP Real Estate multi-unit residential project at the Mayfair Collection is recommended for approval.
B. Background/Options
The City of Wauwatosa received an application from MSP Real Estate for financial assistance through Tax Increment Financing (TIF) to assist with financing a portion of the eligible costs related to the construction of an approximate 80-unit mixed income affordable housing project at the Mayfair Collection at 11500 West Burleigh Street. The project will include 1, 2 and 3-bedroom housing units within 2 buildings that are dedicated for both families and seniors within each respective building. The income levels of the units will be a mix of 30%, 50%, 60% and market rate levels.
Included in the proposed term sheet is the requirement that the Developer hire or sub-contract with firms registered as Disadvantaged Business Enterprises with Milwaukee County or the State of Wisconsin Department of Transportation to complete 25% of the construction and professional services work. In addition the, developer is required set a goal of hiring 25% of their additional construction work force from distressed zip codes within Milwaukee County. This is a requirement of the City's Procurement Equity policy.
City staff do not have capacity or technical knowledge to do this type of monitoring. In 2021, three firms with experience in southeast Wisconsin were solicited to provide propos...
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