The city of Beloit City Council on Monday approved a major project that will soon break ground.
City Manager Lori Curtis Luther referred to Amazon during the open session portion of Monday’s meeting. An official announcement is expected at the end of the week.
The Greater Beloit Economic Development Corporation and city council approved an agreement with Seefried Industrial Properties, Inc. GBDEC has agreed to sell 80 acres located on Gateway Boulevard for $80.
The agreement calls for a 1-million-square-foot distribution facility.
Fulfillment center jobs typically start about $15 per hour, according to online job postings.
No city money will be used to subsidize the project, a spokesperson says.
The Greater Beloit Economic Development Corporation approved a purchase and sale agreement and the City Council approved a development agreement with Seefried Industrial Properties at its Oct. 7 council meeting.
Seefried is a build-to-suit development company headquartered in Atlanta, GA.
Preliminary grading work is anticipated to begin on Oct. 15, 2019, prior to closing.
“We are thrilled about the opportunities this development will provide our community and beyond,” said Andrew Janke, GBEDC executive director.
GBEDC is agreeing to sell approximately 80 acres for $80 with a repurchase agreement in place should the 1 million square-foot facility not be constructed within a five-year period.
The development agreement provides a guarantee to the city that
Seefried, or its assignees, shall construct and install any traffic
control or off-site infrastructure improvements required as a result of a
traffic study that is
The property in question is currently on Gateway Boulevard just south of the Colley Road intersection.
“This proposed development would provide our community with increased property value, which will benefit all of Beloit,” City Manager Lori Curtis Luther said in a news release.
Additional information will be available upon closing, expected later this week. Should the final stages of the process prove to be successful, a public announcement would occur at the time of closing.
We don’t know yet how many jobs this could bring to the community, but regional workforce development officials tell 27 News Rock County has a strong and talented workforce that’s attractive to investors.