Title
Resolution to approve a Development Grant to DJE Enterprises, LLC in the amount not to exceed $200,000 for the redevelopment of the property located at 1900 S. 76th Street
Body
WHEREAS, the property at 1900 S. 76th Street (the "Property") is currently for sale and was a former industrial dry cleaner that was privately demolished and remediated to meet Wisconsin Department of Natural Resources requirements; and,
WHEREAS, DJE Enterprises, LLC, the Developer, is interested in redeveloping the property into a 20,000 sq. ft. commercial space with a showroom, offices, and warehouse space with an estimated construction cost between $1.75 to $2 million; and,
WHEREAS, DJE Enterprises, LLC, have requested financial assistance to address environmental and storm water issues that limit the optimal development of the Property; and,
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 proposed Development Grant would be supported through funds from Tax Increment District Number 14 - Milwaukee Ductile (68th and Mitchell), as the Property is eligible for funding as it is located within 1/2 mile of the district boundaries; and,
WHEREAS, the development of the Project would not occur without the benefits of the Development Grant; and,
WHEREAS, the Director of Development recommends the Development Grant to help attract private investment and redevelopment to the Brownfield property.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that it hereby approves a Development Grant to DJE Enterprises, LLC in the amount not to exceed $200,000 for the redevelopment of the property located at 1900 S. 76th Street.
BE IT FURTHER RESOLVED that funding for the proposed Development Grant wou...
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