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Common Council approves sale, development-finance agreement for Makers Row site
Summary
Council approved agreements to sell roughly 1.2 acres west of the farmers market to Makers Row QOZB LLC, authorizing a development-finance agreement and related documents; council recorded a 10-0 vote.
The West Allis Common Council voted 10-0 to approve a purchase-and-sale agreement, a development agreement and a development-finance agreement to sell and redevelop approximately 1.2 acres immediately west of the city's farmers market to Makers Row QOZB LLC.
City staff member Patrick told the council the parcel is identified as lot 1 of the Makers Row development area. He said negotiations reduced developer clawback provisions and that the developer may receive tax increment financing (TIF) payments for the site, estimated at around $400,000 over the remaining years of the TIF. Patrick said the developer must perform site cleanup, landscaping and improvements by July and must continue efforts to lease space; he said leases had not yet been signed.
Attorney Decker, who assisted in finalizing the agreements, said he was available for questions but did not add material detail. Alderman Weigel asked whether the developer had signed any leases; Patrick responded none have been signed but the developer is "getting closer." Patrick said the city's goal was to close the transaction by the coming Friday.
Alderman Haase moved approval of the agreements and Alderman Weigel seconded. The clerk took a roll call, and the council approved the measures, 10 in favor, 0 opposed.
The meeting record identifies Makers Row QOZB LLC as the buyer and references a principal partner named Bob Monet; staff noted that the Mandel Group was not the developer for Makers Row. The approved documents referenced in the motion include a purchase-and-sale agreement, a development agreement and a development-finance agreement; the transcript did not include the full contract texts or the specific TIF resolution number.
No alternative proposals, fiscal contingencies beyond the TIF reference, or formal performance-security amounts were specified in the council discussion on the record. The council did not attach additional conditions in the meeting beyond those summarized by staff.
