PURCHASE OF ABBOTT LAND ENABLES NEW ECONOMIC DEVELOPMENT PROPOSAL

The Village of Pleasant Prairie intends to purchase approximately 458 acres of highly desirable land owned by a subsidiary of Abbott at the northwest corner of County Highway Q and I-94. This land, along with an adjacent property owned by the Village, is proposed to be developed as a new corporate park, Prairie Highlands, with a focus on manufacturing, office and commercial uses.

Village Administrator Michael Pollocoff explained, 天illage efforts aimed at economic development over the last three decades, in conjunction with Kenosha County and the Kenosha Area Business Alliance, have sought to improve well-being and quality of life in our community and region by creating sustainable job opportunities, while growing incomes and stabilizing the local tax base. In that same vein, Village leadership has a strong desire to ensure that the last remaining developable land along I-94 in our community be reserved for its highest and best use.�

Pollocoff continued, 鉄ince 2007, the Village has maintained a good relationship with Abbott that has yielded a high-quality site that is ready for development. Abbott has remained cognizant of the Village痴 need to maintain economic development efforts for the good of the community and region as a whole.�

As the supply of vacant land for the development of manufacturing uses has become smaller, Village leadership considered the idea of continuing job growth efforts on the Abbott land. At the direction of Village President John Steinbrink Sr., staff researched the financial viability of purchasing the Abbott property and creating a new corporate park with a focus on manufacturing, office and commercial uses. 展e wanted to make sure that the plan was viable,� explained Pollocoff. 的t was.�

The Village recently approached Abbott about purchasing the property, and Abbott has agreed to sell approximately 458 acres of land adjacent to I-94 to the Village for $37,500,000, enabling its development as a new corporate park. The Village will allocate funds from its current Tax Incremental District (TID) #2 towards the purchase of the land. Plans to retire TID #2 by 2023 remain firm; its retirement will return nearly $770,000,000 to the tax roll, providing tax support to Village taxpayers and others.

The Village is proposing to create a TID #5, and the project plan for TID #5 will enable the development of the new corporate park. Current estimates place the value of TID #5 at $360,651,500 once it has reached maturity. 典he new park will complement existing and planned development in the area,� explained Pollocoff. 典his site is well suited to support manufacturing, office and commercial uses.�

撤leasant Prairie and its partners have been involved in successful economic development for more than three decades. The Village was incorporated in 1989 for that very purpose,� explained Pollocoff. 溺oving forward, if we池e going to be using Tax Incremental Financing as a public financing tool to facilitate economic development, we want to ensure that it has the highest return for the taxpayers that are supporting it.�

Over the past decade, Abbott, the Village and its partners have worked to prepare Abbott痴 458-acre site and the surrounding corridor for future use and development. This effort included work to improve roadways, expand interchanges and facilitate development of surrounding areas to attract business investment. Since these improvements to the corridor, ULINE has relocated its corporate headquarters to the area, Premium Outlets shopping center has expanded and there has been additional office and industrial growth north along I-94.

The Plan Commission considered proposed plans for the project on February 27 and forwarded a favorable recommendation to the Village Board. The Village Board will consider the plans at a public meeting on Monday, April 17 at 6:00 p.m. The meeting will be held in the Village Hall Auditorium on the south side of Village Hall at 9915 39th Avenue.

More information regarding the project is available by viewing the February 27 Agenda Documents here.  An agenda and related documents for the April 17 meeting will be posted here once available, prior to the April 17 meeting.

2017

CONCEPTUAL PLAN APPROVED FOR THE COTTAGES AT VILLAGE GREEN HEIGHTS

On Monday, March 27, the Pleasant Prairie Plan Commission considered and approved a Conceptual Plan for the development of 72 condominium units on vacant property north of Main Street at 47th Avenue. Doug Stanich is proposing to construct 38 single-unit condominiums and 17 two-unit condominiums. The development has been named the Cottages at Village Green Heights.

The vacant property had formerly been referred to as Village Green Heights Townhomes North. The preliminary plat for the property, approved in March of 2003, had called for the development of 100 total condominium units comprised of 50 two-unit buildings. The vacant land is adjacent to the Village Green Heights and Village Green Heights Addition #1 single family subdivisions, in which most of the lots have been developed.

The Conceptual Plan approved on March 27, 2017 is consistent with all previous approvals, with the exception of the reduction of the number of units from 100 to 72. The development will include four ranch models ranging in size from 1,460 to 1,830 square feet and two two-story, Cape Cod style models ranging in size from 1,900 to 2,200 square feet. Units are proposed to have two or three bedrooms, two or two and a half bathrooms, full basements, two-car garages, and covered porches. The site will be fully landscaped with irrigation installed.

The developer anticipates beginning construction of required public improvements during late summer of 2017. Construction of the full development is expected to be complete during 2020 or 2021. The developer will be seeking additional approvals for the project in the coming months.

2017