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Council approves developer agreement for 0.44-acre downtown parcel; some members cite parking and placemaking concerns
Summary
The Common Council approved a development agreement that would transfer a 0.44-acre city parcel at Wolf River Avenue and Smith Street to Jerwolf Garden LLC in exchange for a development incentive equivalent to the parcel’s appraised value; the vote was 8-2 after council members raised concerns about parking and alternate placemaking ideas.
The Common Council approved a developer agreement to transfer a 0.44-acre city-owned parcel at the corner of Wolf River Avenue and Smith Street to Jerwolf Garden LLC, records from the Economic Development Committee and council session show.
The Economic Development Committee reviewed a draft agreement negotiated with Jerwolf Garden LLC. Administrator Hirth and the city assessor estimated the smaller parcel’s value at $46,200; under the draft agreement the city would provide a development-incentive grant equivalent to the property value so that no monetary exchange would be required for the purchase. Committee members also reported the developer did not…
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