Monroe council approves developer agreement for Eugene Hotel restoration

The Monroe Common Council approved a resolution authorizing a developer agreement with Sukup Properties LLC for the restoration of the Eugene Hotel, citing the city's Tax Increment District authority. "And we we do have a resolution approving the developer's agreement with Sukup properties, LLC for the Eugene hotel restoration," the Chair said when introducing the item.

The resolution references Wisconsin Statute 66.1105 and notes that the city created TID Number 7 on 09/28/2005; it directs the city administrator and clerk to execute the agreement and take actions necessary to perform the undertaking. A council member moved for approval and the Chair seconded; when the Clerk called the roll each listed alder responded "Aye," and the Chair declared, "And that is approved." "Not gonna read the whole thing," a council member added during the presentation.

The council also briefly acknowledged the developer's contributions to Monroe Square. No dollar amounts, contract terms, or implementation schedule were disclosed on the record during this portion of the meeting. The resolution text and the developer agreement were referred to the finance and taxation committee prior to the council's vote, per the motion on the record.