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Monona council approves development agreement with Broadway TIF Entity LLC
Summary
The Monona City Council approved a development agreement between the city, the Monona Community Development Authority and Broadway TIF Entity LLC after convening in closed session for negotiating strategy.
Monona — The Monona City Council on Jan. 6 approved Resolution 24-12-2764, authorizing a development agreement among the City of Monona, the Monona Community Development Authority and Broadway TIF Entity LLC.
The measure, presented by staff and considered after a closed-session negotiation under Wisconsin Statute § 19.85(1)(e), passed on a roll-call vote. Developer representation was present at the meeting for questions from council members.
City staff introduced the agreement and the council asked no substantive follow-up questions at the public vote. After a motion to approve and a second, the clerk called the roll and recorded the following affirmative votes: Alder DePula; Alder Holmgren; Alder Wood; Alder Rademacher; and Alder Bernstein. The motion passed.
The resolution’s packet identified the Broadway TIF Entity LLC development agreement as the matter discussed in closed session; the text presented at the meeting authorized execution of the agreement as recommended by the Monona Community Development Authority. The resolution number on the agenda was 24-12-2764; the meeting packet provided by staff is the controlling document for specifics of the agreement.
Because the substantive negotiating details were discussed in closed session, the council did not detail terms on the public record at the Jan. 6 meeting.
The council’s action authorizes city officials to execute the development agreement and implement the CDA’s recommendation; staff will return to the council with any ministerial steps needed to carry out the contract as required by city procedures.
