HomeMy WebLinkAbout90-379 � • RESOLIITION
October 18, 1990 #9�-379
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE AGREEMENT WITH DOWNTOWN OSHKOSH
BIISIftESS IMPROVEMENT DISTRICT
INITIATED BY: City Administration
BE IT RESOLVED by the Common Council that the attached Agree-
ment between the City of Osbkosh and the Downtown Oshkosh Business
Impronement District is hereby approved and the proper City officials
are hereby authorized and directed to enter into said Agreement.
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, AGREEMENT Res 90-379
This AGREEMENT made this day of October, 1990, by and between the CITY OF
OSHKOSH, a Wisconsin corporation, hereinafter referred to as "CITY", and the DOWNTOWN
OSHKOSH BUSINESS IMPROVEMENT DISTRICT, hereinafter referred to as "BID";
W I T N E S S E T H:
WHEREAS, the City of Oshkosh was petitioned to establish a Business Improvement
District; and
WHEREAS, on September 17, 1987, the City created the Downtown Busiriess
Improvement District; and
WHEREAS, the BID wishes to maintain free parking pursuant to City of Oshkosti
Ordinance dated November 5, 1987.
NOW, THEREFORE, for and in consideration of the mutual promises herein contained,
the receipt and sufficiency of which is hereby acknowledged, the parties agree to as
follows:
A. The BID shall reimburse the City Parking Utility Fund an amount of $57,000.00 to
cover the lost revenue and expenses incurred for continued maintenance and
enforcement of the parking converted by Ordinance to 90 minutes free parking.
B. The BID authorizes the City, beginning February 1, 1991, and ending August 1,
1991, to transfer six (6) equal installments of $9,500.00 from the BID's
segregated account to the City Parking Utility Fund.
C. The City shall provide the BID with a monthly statement of the segregated
account's balance within 10 working days after each monthly transfer is
completed.
D. The term of this Agreement is from November 15, 1990 to November 15, 1991 unless
the BID is terminated pursuant to Section 66.608, Wis. Stats.
E. If the BID is terminated prior to the end of the term of this Agreement, the City
shall reimburse the BID on a pro rata basis based on the number of months left in
the term of this Agreement.
F. If the BID is not terminated, there will be an automatic renewal if no notice is
given by either party to this Agreement, �r unless written notice i� given to
either party no later than 45 days prior to expiration of this Agreement.
IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day
and year above written.
DOWNTOWN OSHKOSH BUSINESS CITY OF OSHKOSH
IMPROVEMENT DISTRICT
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BY: � BY:
DENNIS NOONE, J :, CHAIRMAN WILLIAM D. FRUEH, CITY MANAGER
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AND: '`��
SON R. KINNEY, SEC�ETf1RY DONNA C. SERWAS, CITY CLERK
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APPROVED AS TO FORM:
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WARREN P. KRAFT, ASST. CITY ATTOItNEY
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