Title
Resolution authorizing a Purchase & Sale and Development Agreement by and between the Community Development Authority of the City of West Allis and Wangard Partners, Inc. for the former Yellow Freight Terminal properties located at 11406 and 11528 W. Rogers St.
Body
WHEREAS, the Purchase & Sale and Development Agreement is hereby attached to and made a part of this Resolution; and,
WHEREAS, the Community Development Authority of the City of West Allis (the "Authority") owns the properties located at 11406 and 11528 W. Rogers St. that are within Tax Increment Finance District No. Ten (10); and,
WHEREAS, the Authority is interested in working with Wangard Partners, Inc. and the proposal to construct up to a $13 Million development that includes two buildings consisting of an industrial building and a flex space building with office and industrial space; and,
WHEREAS, the Mayor and Common Council adopted the Memorandum of Understanding between the Authority and Wangard Partners, Inc. on September 3, 2013.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of West Allis that the Executive Director of the Community Development Authority, or his designee, is authorized to negotiate, enter into, execute and deliver a Purchase & Sale and Development Agreement by and between the Community Development Authority of the City of West Allis and Wangard Partners, Inc. for the former Yellow Freight Terminal properties located at 11406 and 11528 W. Rogers St.
BE IT FURTHER RESOLVED, that the City Attorney be and is hereby authorized to make such substantive changes, modifications, additions and deletions to and from the various provisions of the Purchase & Sale and Development Agreement, including any and all attachments, exhibits, addendums and amendments, as may be necessary and proper to correct inconsistencies, eliminate ambiguity and otherwise clarify and supplement said provisions to preserve and maintain the general intent thereof, and to prepare and deliver such other and further documents as may be reasonably necessary to complete the transactions contemplated therein.
BE IT FURTHER RESOLVED that the Executive Director of the Community Development Authority is hereby authorized to act on behalf of the City of West Allis for said documents, execute and take necessary action, and to undertake, direct and complete activities.
cc: Department of Development
DEV-R-743-12-11-13-bjb