The Richfield Village Board is going to be considering a request for annexation this Thursday from the property owners of a 46-acre area currently in the Town of Polk. The Town of Polk recently denied the request from the owners for the Town to maintain the private road serving the businesses.
Richfield Administrator Toby Cotter reported that the fair market value of the business park properties is about $13.8 million. If approved, Richfield will pay Polk a little over $10,000 for each of the next five year as compensation. In return, Cotter estimates that Richfield will received approximately $21,000 in tax revenue. Richfield will also then be responsible for maintenance of the road.
You can read the entire article on the Milwaukee Journal Sentinel website at: http://www.jsonline.com/newswatch/34599174.html
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