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Waukesha RDA forwards real‑estate purchasing policy to Common Council to speed redevelopment acquisitions
Summary
The Redevelopment Authority voted unanimously to forward a new real‑estate purchasing policy to the Common Council. The policy sets acquisition criteria, due‑diligence steps and identifies seed funding sources (interest on ARPA and stabilization accounts, net proceeds from property sales, and the development fund).
The Waukesha City Redevelopment Authority on Oct. 20 voted unanimously to forward a proposed real‑estate purchasing policy to the Common Council for consideration. The policy would authorize the authority to acquire property under specified criteria to support redevelopment goals.
Staff described the policy as a tool to allow the authority to act quickly when catalytic sites become available. The written criteria the authority reviewed include alignment with the city’s strategic plan and corridor plans, demonstrated site redevelopment potential, eligibility for brownfields or other grants, scoring under the Low Income Housing Tax Credit process, location inside tax…
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