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Committee recommends 10-year payment plan for Warrior Wash account
Summary
After discussion the Muskego City Finance Committee recommended a 10-year payment plan Nov. 11 for Muskego Wash LLC (dba Warrior Wash), accepting terms described in meeting as no interest in year one and reduced interest thereafter; the committee will forward the recommendation to council.
The Muskego City Finance Committee recommended a 10-year payment plan Nov. 11 for Muskego Wash LLC, which does business as Warrior Wash.
S2, committee member, summarized earlier negotiations from the Oct. 28 meeting and said that staff had previously cited 10 years at 6% as an acceptable negotiating target. S2 said the business — which acquired the property after a foreclosure — proposed 10 years; "They want no interest for year 1, 5% interest for years 2 to 10," S2 said in committee discussion. S5 and S3 commented the proposal would return the city its principal and some interest, and that the terms were acceptable to bring forward.
The committee voted to recommend the plan; S1 confirmed the resolution will be moved up to council for final action.
