Title
Resolution approving a Purchase and Sale Agreement and Development Agreement between the Community Development Authority of the City of West Allis and Mandel Group Properties, LLC for a residential development north of W. National Ave. (NoNa), The Market, within the Six Points/Farmers Market Redevelopment Area.
Body
WHEREAS, the Community Development Authority of the City of West Allis (the "Authority") is the owner of the property located at 14** S. Six Points Crossing (454-0651-000) (the "Property") in the City of West Allis; and,
WHEREAS, the City of West Allis (the "City") wishes to create additional tax base and foster job creation for the City through the sale and redevelopment of the property; and,
WHEREAS, the Authority, on May 31, 2016 by Resolution No. 1179, authorized the sale of the Property to Mandel Group Properties, LLC and the Common Council, on August 1, 2017 by Resolution No. R-2017-0213, approved an Option to Purchase from Mandel Group Properties, LLC; and,
WHEREAS, Mandel Group Properties, LLC intends to construct up to an estimated $44 Million development that includes 177 contemporary apartments; and,
WHEREAS, the City agrees to the sale of the land to Mandel Group Properties, LLC or its successors or assigns or affiliates for $1.00 as an incentive for redevelopment of the property.
NOW, THEREFORE BE IT RESOLVED that the Common Council of the City of West Allis hereby authorizes as follows:
1. A Purchase and Sale Agreement and Development Agreement between the Community Development Authority of the City of West Allis and Mandel Group Properties, LLC or its successors or assigns or affiliates for a residential development north of W. National Ave. (NoNa), The Market, within the Six Points/Farmers Market Redevelopment Area.
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 desi...
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