Page 159 - 2018 Village Ordinance Book 122818

DEVELOPMENT AGREEMENT
BETWEEN THE VILLAGE OF STURTEVANT
AND GIFTED HANDS HOBBY HOUSE, LLC

THIS AGREEMENT, effective as of the date last executed by any party below, is made
and entered into by and between GIFTED HANDS HOBBY HOUSE, LLC, a Wisconsin
corporation ("Developer"), and the COMMUNITY DEVELOPMENT AUTHORITY OF
THE VILLAGE OF STURTEVANT and the VILLAGE OF STURTEVANT, a municipal
corporation located in Racine County, Wisconsin, (the latter two collectively referred to as the
“Village”);

RECITALS:

1. The Village is the owner of land located at 10201 E. Exploration Court in the
Village of Sturtevant, Racine County, Wisconsin, described as Parcel I.D. No. 181-03-22-16-
428-041 (“Property”). A legal description of the Property is attached and incorporated as
Exhibit A hereto.

2. The Village has an economic interest the successful development of the Property
as soon as possible, so that the Property is placed on the Property Tax Roll.

3. The Developer would like purchase the Property from the Village to construct a
commercial office building with banquet facilities.

4. Therefore, in order to facilitate the Property’s further development, the Village
has indicated its willingness to sell the Developer the Property to construct the Development.

5. It is the proposal of the Developer, and the understanding and agreement of the
Village, that upon approval of the Site Plan, Development will be subject to the requirements of
this Agreement and such addition of detail as is necessary shall be submitted for the review and
approval of the Village to fulfill the requirements of this Agreement, as well as Wisconsin State
Statutes, Wisconsin Administrative Code provisions, and Village of Sturtevant ordinance
provisions.

6. The Village and Developer hereby mutually agree to the Property’s development
on the terms and conditions herein.

I. INCORPORATION OF RECITALS

The parties agree that the above recitals are true and correct and they are each
incorporated into this Agreement by reference. The following definitions shall be applicable to
various provisions of this Agreement.

DAVISON LAW OFFICE, LTD. Page 1
1207 55th Street, Kenosha, Wisconsin 53140 (Rev. 4/27/18)
Telephone No. (262) 657-5165 Fax No. (262) 657-5517 Email: dmltd@sbcglobal.net