11-11-25 - Community Development Authority Meeting

The City of West Allis Community Development Authority (CDA) meeting focused primarily on approving a purchase and sale and development agreement with F Street 92 LLC for a significant residential development project at the former St. Al's site. The project involves a developer-funded Tax Increment Financing (TIF) agreement valued at approximately $13.15 million over 22 to 24 years, supporting a $26.18 million investment including private equity. The development includes 21 garden-style apartments and a 105-unit mid-rise building with amenities, aiming to revitalize a blighted area without city upfront costs. Additionally, the CDA approved easements for utility services and discussed energy efficiency improvements for the Boyd Road Senior Housing through federal grants, emphasizing no cost to the city. The meeting also covered updates on other redevelopment initiatives, lease agreements, and real estate purchase amendments, with several items handled in closed session due to competitive bidding and investment considerations.