Number
090125
Version
ORIGINAL
Reference
080743
Sponsor
ALD. ZIELINSKI
Title
Resolution accepting a proposal for the sale of the surplus, City-owned property at 2372 South Logan Avenue from the Housing Authority of the City of Milwaukee for residential development, in the 14th Aldermanic District.
Analysis
This resolution authorizes the sale of Development Property according to the conditions in a Land Disposition Report.
Body
Whereas, By adoption of File No. 080743 on October 29, 2008, the Common Council of the City of Milwaukee authorized the surplus declaration and marketing of the former Army Reserve site at 2372 South Logan Avenue; and
Whereas, The Department of City Development (“DCD”) issued a Request For Proposals in November of 2008 specifying redevelopment criteria for the property; and
Whereas, Seven proposals were received prior to the established deadline and were reviewed according to the established redevelopment criteria; and
Whereas, DCD recommends sale of said property to the Housing Authority of the City of Milwaukee (“HACM”) for residential development as outlined in a Land Disposition Report, a copy of which is attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the proposal submitted by HACM for the former Army Reserve site at 2372 South Logan Avenue is accepted; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to execute an Option to Purchase, Agreement for Sale and Deed, on behalf of the City, and to close the transaction according to the terms of the Land Disposition Report, conditioned on DCD approval of the final building plans and receipt of a firm financing commitment; and, be it
Further Resolved, That the proper City officials and/or the Commissioner of DCD, or designee, are/is authorized to execute any other legal documents necessary to close the transaction; and, be it
Further Resolved, That the sale proceed...
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