Number
001433
Version
ORIGINAL
Reference
972002
Sponsor
ALD. D'AMATO
Title
Resolution declaring the City-owned parking lot at 1812-18 East Lafayette Place surplus to municipal needs and accepting an Option to Purchase from Lafayette Hill, LLC for mixed-use development, in the 3rd Aldermanic District. (DCD-Real Estate)
Analysis
This resolution will declare the parking lot at 1812-18 East Lafayette Place surplus to municipal needs and permit the City of Milwaukee to convey the property according to the conditions in the Land Disposition Report.
Body
Whereas, In Common Council File No. 972002, adopted on May 5, 1998, the Common Council of the City of Milwaukee ("Council") directed the Department of City Development ("DCD") to market underutilized City-owned parking lots in the 3rd Aldermanic District for sale and development; and
Whereas, The parking lot at 1812-18 East Lafayette Place was advertised for sale in accordance with the guidelines established by the Council and several proposals were received prior to the established deadline; and
Whereas, DCD reviewed the submittals and recommends acceptance of the proposal submitted by Robert Zellmer who proposes to create Lafayette Hill, LLC to build a multi-story, mixed-use development as outlined in the Land Disposition Report; and
Whereas, The City Plan Commission has determined that this property is surplus to municipal needs; and
Whereas, Prior to the transfer or sale of the property, an exemption would be required from the provision of Common Council File No. 920379, which placed a moratorium on the purchase, sale or construction of any new or existing City parking facilities until a City-wide Transportation Plan is adopted by the Council; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the City-owned parking lot at 1812-18 East Lafayette Place is declared surplus to municipal needs and that the development proposal of Lafayette Hill, LLC is accepted; and, be it
Further Resolved, That the Commissioner of the DCD is authorized to execute all legal documents, including the deed of conveyance, on behalf of the City of Milwaukee and to close the transaction according to the terms of the Land Disposition Report; and, be it
Further Resolved, That the parcel is exempt from the provision of Common Council File No. 920379, which placed a moratorium on the purchase, sale or construction of any new City parking facilities until a City-wide Transportation Plan is adopted by the Council; and, be it
Further Resolved, That the net proceeds from the sale of said lot shall be deposited in the Department of Public Works' Parking Fund Account or such other accounts as may be determined by the Commissioner of Public Works or the Comptroller of the City of Milwaukee.
Drafter
DCD-Real Estate
GJS:bmm
02/06/01/A