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Waukesha Redevelopment Authority advances real estate purchasing policy to Common Council
Summary
The authority approved forwarding a new real estate purchasing policy to the Common Council that would authorize the RDA to acquire select sites quickly and create a seed acquisition fund from identified local revenue sources.
The Waukesha Redevelopment Authority voted unanimously on Oct. 20 to forward a proposed real estate purchasing policy to the Common Council for approval. The policy would give the authority the ability, under guidelines, to make quick offers and—after due diligence—acquire properties identified as high redevelopment potential.
Why it matters: authority members said the policy is intended to help the city preserve scarce developable land and to enable acquisition of catalytic sites identified in local plans, brownfield areas and other locations suitable for workforce housing or targeted redevelopment.
Policy details presented Staff summarized criteria that would make a parcel eligible for acquisition, including…
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