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Council approves amendment to development agreement with Cobalt Loomis LLC to secure turf parking lot
Summary
At a June 5 special meeting the Greenfield Common Council approved the first amendment to its amended and restated development agreement with Cobalt Loomis LLC, extending a note guarantee and clearing easements so the city can take ownership of a parking lot north of the turf and address billboard and utility easements.
The Greenfield Common Council on June 5 approved the first amendment to the amended and restated development agreement between the city and Cobalt Loomis LLC, extending a guarantee on a note for two years and clearing easements so the city can receive a parking lot north of the turf.
Council members said the amendment also cleans up a series of easements tied to utility lines and a billboard on the site and was important to complete before the weekend. The presiding officer said the amendment "ultimately result[s] in the city getting a parking lot for the turf and having that land turned over to us," and described returning the billboard to municipal control as part of the cleanup.
The agreement is connected to work on the public park-and-ride site adjacent to the turf and to utility easements that the council said needed resolution before construction bids proceed. The presiding officer told the council that the Wisconsin Department of Transportation's (DOT) legal, decision-making and engineering reviews were expected to be completed within about 30 days, which the council said would clear the way for finishing the parking lot by fall if the schedule holds.
Councilmember Alderson Truswicki moved to approve the amendment; the motion was seconded and approved on recorded voice/roll call votes. During the roll call, Alderson Truswicki, Alderson Sarian and Alderperson Acres registered aye votes.
City staff and the developer will coordinate final easement conveyances and any required utility relocations before the city accepts the parcel. The council did not set a construction start date in the meeting record; staff indicated DOT approvals and final engineering remain outstanding.
Action and next steps recorded at the meeting include finalizing easement language, coordinating with DOT on the park-and-ride configuration and returning the parcel and billboard easements to city control when conditions are met.
