Number
220972
Version
ORIGINAL
Reference
151894, 190054
Sponsor
THE CHAIR
Title
Resolution relating to the sale of the former Carleton School property at 4116 West Silver Spring Drive in accordance with Wisconsin Statutes Section 119.61.
Analysis
This resolution authorizes certain modifications to the sale file of the former Carleton School property having an address of 4116 West Silver Spring Drive and establishes amended terms of the sale according to the Amended Land Disposition Report.
Body
Whereas, The former Carleton School (the “Property”), located at 4116 West Silver Spring Drive, was declared surplus by the Milwaukee Board of School Directors in 2012; and
Whereas, Section 119.61, Wisconsin Statutes, requires that the City Clerk must post public notice of available surplus Milwaukee Public Schools property for 24 consecutive months, and during that period, such property may be sold only to education operators as determined by the Common Council of the City of Milwaukee (“Common Council”); and
Whereas, Notice of the availability of the Property was posted on the City of Milwaukee’s (“City”) website beginning January 26, 2016; and
Whereas, Common Council File No. 151894, adopted by the Common Council on November 1, 2016, approved the sale to Rocketship Education, Inc.; and
Whereas, Rocketship Education, Inc. subsequently withdrew its offer to purchase as a result of escalating costs to renovate the Property for school use; and
Whereas, The City relisted the Property for adaptive reuse on March 1, 2018; and
Whereas, AndersonWebb LLC and Wisconsin Redevelopment, LLC or its newly created entity or assignee (jointly referred to as “Buyer”) submitted a proposal on January 4, 2019, to purchase for $220,000, based on the appraised value as established by an independent appraisal completed by The Nicholson Group LLC in March 2016; and
Whereas, The Common Council approved the sale to the Buyer by approving Common Council File No. 190054 on May 7, 2019; and
Whereas, Unforeseen circumstances and delays due to COVID-19 require extensions to the original timeline and revisions to the project scope for the Carleton School redevelopment (“Project”); and
Whereas, The Department of City Development (“DCD”) has reviewed the Buyer’s progress and amended certain elements of the Project as further described in the Amended Land Disposition Report (“Amended LDR”), including, but not limited to, the Project timeline and reduction in the total number of units from 60 to 48; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Amended LDR for the Property, a copy of which is attached to this Common Council file, is approved and that DCD is authorized to provide the Buyer with site control and to enter into a Purchase and Sale Agreement with the Buyer, or assignee, materially consistent with the Amended LDR, and then convey the Property to the Buyer in accordance therewith; and, be it
Further Resolved, That the Commissioner of DCD, or its designee, is authorized to sign the Site Control Letter, Purchase and Sale Agreement, deed and requisite closing documents and to close the transaction and to take such actions, as may be needed, to effectuate the terms of the Amended LDR and this resolution, including any needed easements and/or releases of deed restrictions; and, be it
Further Resolved, That the sale proceeds, less sale expenses, shall be deposited in the Milwaukee Public Schools Operations Fund, in accordance with Sections 119.46 and 119.61(5), Wisconsin Statutes.
Drafter
DCD:Rhonda.Szallai:rs
11/01/22/A