Number
080271
Version
ORIGINAL
Reference
051348
Sponsor
ALD. COGGS
Title
Resolution approving the Land Disposition Report for 19 properties in the North 5th Street-West Vine Street Redevelopment Project Area for sale to Vineyard Business Park Development, LLC, for mixed-use development, in the 6th Aldermanic District.
Analysis
This resolution will permit the Redevelopment Authority to convey said land according to the conditions in the Land Disposition Report.
Body
Whereas, In 2005, the Redevelopment Authority of the City of Milwaukee (“Authority”) advertised a Request for Proposal for the purchase and development of property in the North 5th Street-West Vine Street Redevelopment Project Area; and
Whereas, By adoption of File No. 051348, on February 28, 2006, the Common Council of the City of Milwaukee continued the Authority’s selection of Vineyard Business Park Development, LLC, (“Redeveloper”) to purchase and develop the sites as a mixed-use business park; and
Whereas, The Redeveloper has worked diligently since its selection, but has needed to modify conditions as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, On June 19, 2008, the Authority held a Public Hearing on the revised proposal 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 said 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 June 19, 2008, with respect to the proposed sale of the following property is approved.
REDEVELOPMENT PROJECT AREA
North 5th Street-West Vine Street
PARCEL ADDRESSES
504-04A and 506-08 West Walnut Street
1715-17, 1719, 1721, 1725, 1729, 1743, 1745 and 1749 North 5th Street
513, 523-25, 527, 531-33 and 535 West Vine Street
1728-28C, 1732-32A, 1734-36 and 1734A North 6th Street
REDEVELOPER
Vineyard Business Park Development, LLC, or assigns
; and, be it
Further Resolved, That the proper City officials are authorized to execute an Emerging Business Enterprises Agreement with the Redeveloper and the Authority and any other City of Milwaukee easements or documents necessary to close the transaction.
Drafter
DCD/Redevelopment Authority
MFH:mfh
06/10/08/A