The Pleasant Prairie Village Board will consider Wednesday night a proposed development agreement for 482 acres owned by Abbott Laboratories Inc. for the drug company's $1.2 billion business park.
The business park would be located west of Interstate 94 between Highway C and Highway Q in the village of Pleasant Prairie.
The development agreement includes preliminary plans for public and private infrastructure improvements, such as roads, sanitary sewer, water and storm water management facilities. Village officials expect the infrastructure work to begin in early 2008. Some of the infrastructure investments will fall within a new tax incremental financing district that will be established for the Abbott development, said Mike Pollocoff, Pleasant Prairie's village administrator.
Abbott has no definitive timelines or specific plans for developing the site, Abbott spokesman Kurt Ebenhoch said.
Abbott is also receiving a $12.5 million aid package from the Wisconsin Department of Commerce, which will be issued as a loan to the Kenosha Area Business Alliance. The economic development group will use the money for land acquisition and infrastructure development on behalf of Abbot.
The Pleasant Prairie Community Development Authority is also meeting tonight to approve the transfer of 53 acres adjacent to the development site and Interstate 94 to Abbott for wetlands preservation and storm water management uses outlined in the development agreement.
Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.
source: bizjournals.com
