Number
061026
Version
ORIGINAL
Reference
Sponsor
ALD. HINES
Title
Resolution approving the blight designation and acquisition of the City-owned vacant lots at 1408-1420 West Center Street by the Redevelopment Authority and approving the Land Disposition Report for these properties and the Redevelopment Authority-owned properties in the 2700 block of North Teutonia Avenue for sale to GFG Real Estate and Horizon Development Group for mixed-use development, in the 15th Aldermanic District.
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 and acquisition of a City-owned property by the Redevelopment Authority of the City of Milwaukee pursuant to Section 66.1333, Wisconsin Statutes, and will permit the Redevelopment Authority to convey this and other land according to the conditions in the Land Disposition Report.
Body
Whereas, GFG Real Estate and Horizon Development Group have offered to purchase from the Redevelopment Authority of the City of Milwaukee (“Authority”) the Authority-owned properties in the 2700 block of North Teutonia Avenue and three City-owned vacant lots in the 1400 block of West Center Street for development of the Handsome Plaza Retail Center and Teutonia Gardens apartment homes; and
Whereas, To facilitate preparation of the sale agreements, all property should be in the common ownership of the Authority; and
Whereas, For the Authority to acquire property without adopting a redevelopment plan, the Authority must hold a public hearing and declare the property blighted pursuant to Section 66.1333, Wisconsin Statutes; and
Whereas, On November 16, 2006, the Authority held a Public Hearing on the proposed blight designation and property sale as required by Wisconsin Statutes; and
Whereas, Pursuant to Wisconsin Statutes and as a condition precedent to the sale, lease or transfer of land, the Authority submits herewith a Land Disposition Report describing the terms and conditions of the proposed sale; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report dated November 16, 2006, with respect to the proposed sale of the following property is approved.
REDEVELOPMENT PROJECT AREAS
Hopkins-Teutonia, Teutonia-Hadley & Blight Elimination
PARCEL ADDRESSES
2723 North Teutonia Avenue
2725-27 North Teutonia Avenue
2745-49 North Teutonia Avenue
2761 North Teutonia Avenue
2777 North Teutonia Avenue
1445R West Hadley Street
1408 West Center Street
1414 West Center Street
1418-20 West Center Street
REDEVELOPER
GFG Real Estate and Horizon Development Group
; and, be it
Further Resolved, That the proper City officials are authorized to execute an Emerging Business Enterprise Agreement with the Redeveloper; and, be it
Further Resolved, That if any lots are encumbered by old City deed restrictions that prohibited construction, required use as green space or were prohibited from division and/or combination, the Commissioner of the Department of City Development or designee are authorized to execute Release of Deed Restrictions so that clear title may be granted to the Redeveloper; and, be it
Further Resolved, That the sale proceeds, less sale expenses and a 25 percent fee reimbursement to the Authority, shall be returned to the Reserve For Tax Deficit Fund and the Community Development Grants Administration.
Drafter
DCD/Redevelopment Authority
DKE:dke
11/14/06/A