Title
Resolution to consider a Development Agreement by and between GG 003 LLC, and the City of West Allis regarding the property located at 7030 W. National Avenue and 15** S. 71 St.
Body
WHEREAS, the GG 003, LLC, a Wisconsin limited liability company ("Developer") intends to acquire in separate transactions approximately 0.6674 acres of real property in the City of West Allis, Wisconsin ("City"), comprised of tax key parcel 453-0270-001, tax key parcel 453-0272-001 and the portion of the 14-foot wide alley separating the two private parcels (the "Property'), as depicted and contained in Exhibit A of the attached Development Agreement; and,
WHEREAS, the Developer plans investing over $2 million dollars in developing the Property into a multi-tenant dental and medical office building consisting of approximately 17,800 sq. ft. and 45 surface parking spaces. A preliminary site, landscaping and architectural plan is provided showing projected future development of the Property within Exhibit B, attached hereto; and,
WHEREAS, the Developer is seeking an agreement with Milwaukee County to resolve outstanding tax liens on certain portions of the Property; and,
WHEREAS, the City of West Allis (the "City") wishes to encourage economic development, eliminate blight, expand the City's tax base and foster job creation for the City through the development of the Property; and,
WHEREAS, the Developer requested financial assistance to support establishment of the business at the Property in the form of a forgivable loan in an amount equal to $200,000 for the purchase of equipment and inventory costs related to Developer's establishment of a dental office at the Property; and
WHEREAS, the forgivable loan would be funded with an allocation of Community Development Block Grant (CDBG) funds in the amount of $200,000 to support the creation of jobs for low-to-moderate income persons; and,
WHEREAS, the Developer requested additional assistance for increased proje...
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