Title
Resolution authorizing a Memorandum of Understanding 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 Memorandum of Understanding 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 Memorandum of Understanding would provide the outline of terms and conditions to a future Purchase and Sale agreement by the Authority and Wangard Partners, Inc.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of West Allis that the Director of Development or his designee, is authorized to negotiate the Purchase & Sale and Development Agreements as outlined in the attached Memorandum of Understanding 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 Memorandum of Understanding, 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 deli...
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