Page 158 - 2018 Village Ordinance Book 122818

State of Wisconsin County of Racine Village of Sturtevant

RESOLUTION NO. 2018-40

RESOLUTION BY THE ECONOMIC DEVELOPMENT AND REDEVELOPMENT
COMMITTEE AUTHORIZING THE EXECUTION OF A DEVELOPMENT AGREEMENT
BETWEEN THE VILLAGE OF STURTEVANT AND GIFTED HANDS HOBBY HOUSE,

LLC

The Village Board of the Village of Sturtevant ("Village"), Racine County, Wisconsin,
resolves as follows:

RECITALS

WHEREAS, Gifted Hands Hobby House, LLC has proposed to construct a
commercial/office building with banquet facilities 10201 E. Exploration Court, parcel 181-03-
22-16-428-041; and

WHEREAS, closing must occur before June 29, 2018; and

WHEREAS, Gifted Hands Hobby House, LLC shall commence with construction of the
Development no later than December 31, 2018 or the Village may exercise the option to
repurchase the property for the sum of $600,000.

NOW, THEREFORE, BE IT RESOLVED by the Sturtevant Village Board that the
Development Agreement as set forth in Exhibit A which is attached and incorporated herein
is authorized and approved, and the Village President and Village Clerk are authorized to
execute said agreement.

Adopted by the Village Board of the Village of Sturtevant, Racine County,
Wisconsin, this 1st day of May, 2018.

VILLAGE OF STURTEVANT

Jayme Hoffman,
Village President

Mary Cole, Clerk