Page 378 - 2018 Village Ordinance Book 122818

State of Wisconsin County of Racine Village of Sturtevant

RESOLUTION 2018-88
(10-31-18)

RESOLUTION BY THE ECONOMIC DEVELOPMENT AND REDEVELOPMENT
COMMITTEE AUTHORIZING ENTERING INTO A REIMBURSEMENT AGREEMENT WITH

ASHLEY CAPITAL, LLC

WHEREAS, Ashley Capital is considering moving forward with construction of Building
IV in Enterprise Business Park; and

WHEREAS, Ashley Capital has requested for the village to move forward with
preliminary engineering, planning, legal, and administrative costs for documents related to
the construction of the road prior to a Development Agreement being approved; and

WHEREAS, the Village of Sturtevant is willing to move forward with preliminary
engineering, planning, legal, and administrative costs for documents related to the
development, if a Reimbursement Agreement is created.

NOW THEREFORE, the Village Board of the Village of Sturtevant, Racine County,
Wisconsin does hereby resolve:

1. That the execution of an Reimbursement Agreement with Ashley Capital,
LLC as set forth in Exhibit A which is attached hereto and incorporated
herein is authorized and approved.

2. That the Village President and the Village Clerk are authorized to sign any
agreements or other documents necessary to carry out the intent of this
resolution.

Adopted by the Village Board of the Village of Sturtevant, Racine County,
Wisconsin, this 7th day of November, 2018.

Village of Sturtevant

By__________________________
Jayme Hoffman, President

Attest________________________
Mary Cole, Village Clerk