Number
041259
Version
ORIGINAL
Reference
Sponsor
ALD. D'AMATO
Title
Resolution approving the blight designation by the Redevelopment Authority of the Kenilworth Building at 2185 North Prospect Avenue for acquisition and bond purposes to facilitate redevelopment as a mixed-use building and authorizing a long-term lease of the redeveloped facility by the Redevelopment Authority with the Wisconsin Department of Administration for use by the University of Wisconsin-Milwaukee, in the 3rd Aldermanic District. (Redevelopment Authority)
Analysis
Adoption of this resolution by at least two-thirds vote of the Common Council of the City of Milwaukee will approve the blight designation of a property and authorize the Redevelopment Authority to lease the property on a long-term basis to facilitate redevelopment and to authorize a subsequent lease as outlined in the Blight Designation Summary and Land Disposition Report.
Body
Whereas, The University of Wisconsin-Milwaukee ("UWM") has requested that the Redevelopment Authority of the City of Milwaukee ("Authority") use its blight designation and bonding authority to facilitate redevelopment of the Kenilworth Building at 2185 North Prospect Avenue for use as graduate and upper-class student housing on the upper levels, retail areas on the ground floor, parking and some classroom space; and
Whereas, On January 20, 2005, the Authority held a public hearing pursuant to Wisconsin Statutes and determined that said property was blighted within the meaning of Section 66.1333(4)(bm), Wisconsin Statutes, and requested Common Council approval of the blight designation and acquisition through a lease with the Board of Regents on behalf of UWM as outlined in a Blight Designation Summary and Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, After renovation, the Authority desires to lease its portion of the property to the Wisconsin Department of Administration for use by UWM, the terms of which are also summarized in said Blight Designation Summary and Land Disposition Report; and
Whereas, The public hearing conducted on January 20, 2005 also addressed the disposition of the property as required by Wisconsin Statutes; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the property at 2185 North Prospect Avenue is found to be a blighted property in need of blight elimination, slum clearance and urban renewal and qualifies as an eligible project within the meaning of Section 66.1333(4)(bm), Wisconsin Statutes, as amended; and, be it
Further Resolved, That the Authority is authorized to enter into a long-term lease with the Board of Regents to facilitate redevelopment of the building as a mixed-use facility; and, be it
Further Resolved, That upon completion of the renovation, the Authority is authorized to lease the property to the Wisconsin Department of Administration as outlined in the Blight Designation Summary and Land Disposition Report.
Drafter
DCD-Redevelopment Authority
EMM:bmm
01/11/05/A