Number
041216
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. DONOVAN
Title
Substitute resolution declaring the Department of Public Works facility at 1912 West Pierce Street surplus to municipal needs and authorizing acceptance of an unsolicited Offer to Purchase from Miller Compressing Company, in the 8th Aldermanic District. (DCD-Real Estate)
Analysis
This substitute resolution will declare a City-owned property surplus to municipal needs and permit the City of Milwaukee to accept an unsolicited Offer to Purchase pursuant to Section 304-49-17, Milwaukee Code of Ordinances.
Body
Whereas, The Department of Public Works ("DPW") has notified the Department of City Development ("DCD") that the Sanitation garbage cart repair and utility shop at 1912 West Pierce Street is no longer needed for municipal purposes; and
Whereas, DPW has received an unsolicited Offer to Purchase from the adjoining owner, Miller Compressing Company, for expansion; and
Whereas, Section 304-49-17, Milwaukee Code of Ordinances, allows the City of Milwaukee ("City") to accept unsolicited Offers and convey property to a designated entity for adequate fair market consideration; and
Whereas, DCD, the real estate agent for municipal departments, has reviewed the offering price and believes the price represents fair market value of the property in its "as is, where is" condition and recommends acceptance of the Offer as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, The City Plan Commission has determined that the property at 1912 West Pierce Street is surplus to municipal needs; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Sanitation garbage cart repair and utility shop at 1912 West Pierce Street is declared surplus to municipal needs; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to accept said Offer to Purchase on behalf of the City and to close the transaction according to the terms summarized in said Land Disposition Report; and, be it
Further Resolved, That at such time as the property is sold, the sale proceeds, less marketing and closing expenses and a 20 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee, shall be deposited in the City of Milwaukee's General Fund.
Drafter
DCD-Real Estate
EMM:bmm
04/15/05