Title
Resolution approving the terms and conditions of a Development Agreement by and between the City of West Allis and Edward and Penny Wistl, d/b/a Wistl Management for the property located at 7200-06 W. Greenfield Ave. and 1375 S. 72 St.
Body
WHEREAS, the City recognizes that the property located at 7200-07 W. Greenfield Ave. and 1375 S. 72 St. has suffered from years of continual neglect and disrepair; and,
WHEREAS, the property located at 7200-06 W. Greenfield Ave. and 1375 S. 72 St. is within the Downtown West Allis Business Improvement District and according to historical accounts, the building at this address, was built by the first Mayor of West Allis; and,
WHEREAS, the City promotes revitalization of properties within the district, works to foster property tax base growth through the attraction of new businesses, and seeks development of housing units; and,
WHEREAS, the property owner intends to rehabilitate said property by renovating the existing building into a mixed-use commercial development with retail on the first floor and converting the second floor office space into eight affordable housing units; and,
WHEREAS, since the rehabilitation of the property poses economic challenges, the Department of Development has worked with the property owner to develop a financial assistance package that includes Community Development Block Grant funds and HOME funds; and,
WHEREAS, the Department of Development has reviewed a loan request from the property owner and has determined that the project is eligible for funding under Community Development Block Grant and HOME guidelines.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis, that it hereby approves the terms and conditions of a Development Agreement, outlined in the attached Exhibit A and incorporated herein by reference.
BE IT FURTHER RESOLVED that the Director of Development be and is hereby authorized to execute and deliver the Agreement on ...
Click here for full text