Title
Resolution approving an extension of time on the Option to Purchase for public land located at 14** S. Six Points Crossing (454-0651-000) in the City of West Allis.
Body
WHEREAS, the Community Development Authority of the City of West Allis (the "Authority") is the owner of the 7.584-acre parcel in the vicinity of the Six Points/Farmers Market Redevelopment Area, located at 14** S. Six Points Crossing, (the "Property"); 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, Mandel Group Properties, LLC ("Mandel") has submitted to the City of West Allis Common Council (the "Council"), by Resolution R-2017-0213 adopted August 1, 2017, an Option to Purchase (the "Option") for the Property; and;
WHEREAS, the Authority, through Resolution No. 1179 on May 31, 2016, approved the sale of the Property to Mandel for the construction of an approximate 30,000 square foot office building and approximately 177 contemporary apartments; and,
WHEREAS, the Option is contingent on a Purchase & Sale and Development Agreement between the Authority and Mandel which will be forthcoming before the Council and Authority for the construction of an approximate 30,000 square foot office building and approximately 177 contemporary apartments; and,
WHEREAS, the Option has expired and Mandel has requested an extension of time which would expire December 5, 2017; and,
WHEREAS, the Authority, through Resolution No. 1251 adopted October 10, 2017, approved an extension of time on the Option to Purchase; and,
WHEREAS, the Department of Development recommends approval of the extension of time on the Option, attached herein and made a part thereof, to move negotiations forward for the Purchase & Sale and Development Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis, as follows:
1. Approves...
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