Title
Resolution to consider the transfer of $40,000 from the Community and Economic Development Investment Fund Reserve to the Community Development Authority of the City of West Allis for purposes of a Land Contract regarding the property located at 10620 W. Greenfield Ave.
Body
WHEREAS, the Community Development Authority of the City of West Allis (the “Authority”) wishes to encourage economic development, eliminate blight, expand the City’s tax base and foster job creation for the City of West Allis (the “City”) through the development of the Property; and,
WHEREAS, the property located at 10620 W. Greenfield Ave. (the “Property”) has experienced a long term vacancy and often exhibited conditions of disrepair and disinvestment; and,
WHEREAS, the Property has multiple ownerships that challenge possible repositioning or redevelopment of the Property; and,
WHEREAS, the City Attorney and the Authority have negotiated the terms of a Land Contract acceptable to the Authority that will help address the above-mentioned redevelopment and ownership issues but requires the allocation of $40,000 to assist with land transfer and real estate commission costs; and,
WHEREAS, the Director of Development entering into a development agreement recommends approval.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that $40,000 be transferred from the Community and Economic Development Investment Fund Reserve to the Community Development Authority of the City of West Allis for the purpose of a Land Contract regarding the property located at 10620 W. Greenfield Ave.
BE IT FURTHER RESOLVED that the Director of Development, or his designee, be and is hereby authorized to execute and deliver the aforesaid Land Contract on behalf of the City.
BE IT FURTHER RESOLVED that the City Attorney be and is hereby authorized to make such non-substantive changes, modifications, additions and deletions to and from the various provisions of the contract, 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 deliver such other and further documents as may be reasonably necessary to complete the transactions contemplated therein.
BE IT FURTHER RESOLVED that the amount of $40,000 will be allocated from the Account Number
100-8813-517-3102, General Fund, General City Expense/Special Projects/Studies.
cc: Department of Development
Finance Department
DEV-R-994-10-15-19