Title
Resolution approving a Purchase and Sale Agreement and Development Agreement between the Community Development Authority of the City of West Allis and Element 84, LLC for a multi-family development within the 84th and Greenfield Redevelopment Area.
Body
WHEREAS, the Community Development Authority of the City of West Allis (the "Authority") is the owner of five (5) parcels, totaling 4.79 acres in the vicinity of the 84th & Greenfield Redevelopment Area 82** W. Orchard St., 1515 S. 83 St., 1502 S. 83 St., 15** S. 83 St. and 15** S. 83 St. (the "Property") that are within Tax Increment Finance District No. Eleven; and,
WHEREAS, the Authority wishes to create additional tax base and foster job creation for the City of West Allis (the "City") through the sale and redevelopment of the property; and,
WHEREAS, the Authority duly noticed and held a Public Hearing on the sale of the Property on November 10, 2015; and through Resolution No. 1146, authorized the sale of land of the Property to Element 84, LLC; and,
WHEREAS, the Authority, on May 31, 2016 by Resolution No. 1183, authorized a Purchase and Sale Agreement and Development Agreement with Element 84, LLC for a multi-family development within the 84th and Greenfield Redevelopment Area.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of West Allis, as follows:
1. Approves the Purchase and Sale Agreement and Development Agreement by and between the Community Development Authority of the City of West Allis and Element 84, LLC for a multi-family development within the 84th and Greenfield Redevelopment Area, pursuant to section 66.1333(6)(b)2, Wis. Stat.
2. That the Executive Director of the Authority, or his designee, is hereby authorized and directed to take any and all other actions on behalf of the Authority which he deems necessary or desirable in connection with the aforementioned Purchase and Sale and Development Agreement, including, without limitation...
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