Title
Resolution approving a Purchase and Sale Agreement and Development Agreement between the Community Development Authority of the City of West Allis and Glenn Rieder, Inc., its successors and/or assigns, for development of the property located at 1960 S. 67 Pl. and 6520 W. Becher Pl.
Body
WHEREAS, the Community Development Authority of the City of West Allis (the "Authority") is the owner of 1960 S. 67 Pl. and 6520 W. Becher Pl. (the "Property"), totaling 11.511 acres (Tax Key No. 475-0004-000); 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, Glenn Rieder, Inc., its successors and/or assigns, intends to construct an approximate 120,000 sq. ft. light industrial building, consisting of approximately 33,000 sq. ft. of office space and approximately 87,000 sq. ft. of manufacturing/industrial space (the "Project"); and,
WHEREAS, the Authority duly noticed and held a Public Hearing on the sale of the Property on February 7, 2017, and through Resolution No. 1222, authorized the sale of land of the Property to Glenn Rieder, Inc.; and,
WHEREAS, the Authority, on January 10, 2017 by Resolution No. 1217, authorized a Purchase and Sale Agreement and Development Agreement with Glenn Rieder, Inc., its successors and/or assigns for a light industrial development at the Property; and,
WHEREAS, Exhibit 1, attached herein and made a part thereof, verifies that the Project meets the intent and is in conformance with the 67 and Becher Place Redevelopment Project Plan, adopted by the Authority through Resolution No. 387 on October 24, 2002, and adopted by the Common Council through Resolution No. 27232 on November 4, 2002; and,
WHEREAS, the City agrees to the sale of the land to Glenn Rieder, Inc., its successors and/or assigns, for $1.00 as an incentive for redevelopment of the property.
NOW, THEREFORE, BE IT RESOLVED that t...
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