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Cudahy council approves Layton Square development agreement after closed session
Summary
After a closed session under State Statute 19.85, the Cudahy Common Council approved a development agreement and lender addendum for the Layton Square project (3503–3553 E. Layton Ave.) on Nov. 17, 2015.
The Common Council of the City of Cudahy voted to approve a development agreement and lender addendum related to the Layton Square project (3503–3553 E. Layton Ave.) following a closed-session review Nov. 17, 2015. The council adjourned into closed session under State Statute 19.85 (1)(e)(g) at 8:10 p.m. to deliberate on the purchase of public properties, investment of public funds and to confer with legal counsel regarding ongoing or likely litigation as it pertained to the development agreement and lender addendum.
After reconvening in open session, Alderperson Bartoshevich moved to approve the development agreement and lender addendum; Alderperson Litkowiec seconded the motion, and the roll-call vote carried unanimously. The minutes record that the council then discussed and took appropriate action regarding the items considered in closed session.
The minutes identify the parties to the development agreement as the City of Cudahy, the Community Development Authority of the City of Cudahy, Layton Square Cudahy LLC, and Midwest Affordable Housing Corporation, with materials submitted by Bear Development. The meeting minutes do not include the text of the agreement, financial terms, or a timetable for implementation; those details were not specified in the record and remain part of the development contract file.
