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Beloit approves sale of 2 acres at 2001 Gateway Boulevard to Prestige Dance Company
Summary
After a closed-session negotiation, council authorized sale of approximately 2 acres at 2001 Gateway Boulevard to Prestige Dance Company for development of a new dance studio; the buyer offered $10,000 per acre and plans a 10,000 sq. ft. building.
The City Council authorized staff to enter into an agreement to sell approximately 2 acres of city-owned land at 2001 Gateway Boulevard to Prestige Dance Company for the construction of a new dance studio after deliberating in closed session under Wisconsin law.
The council convened in closed session under section 19.85(1)(e) of the Wisconsin Statutes to deliberate the potential sale and then returned to open session, where Drew Pennington described the purchase offer. Prestige offered $10,000 per acre for the roughly 2-acre portion nearest Gateway Boulevard and the creek/floodplain, and offered to pay pre-closing costs such as a certified survey map. Staff said Prestige is not requesting TID assistance or other direct city incentives and that the city’s standard right-of-first-offer and repurchase agreement would apply should the project not move forward.
Packet materials included preliminary site plans showing an approximately 10,000-square-foot studio building and a proposed investment of roughly $1,700,000. Staff said Prestige currently serves about 450 students at its facility. The parcel at issue is part of a larger 17-acre tract the city retained after selling 13 acres for a separate project.
Council members voted to authorize the land sale agreement and allow the purchaser to commence due diligence and planning. The packet indicates the purchaser would proceed with site evaluation and planned development processes following authorization. The motion to enter the agreement passed without recorded objections at the meeting.
