NUMB:
990619
VERS:
SUBSTITUTE 1
REF:
XXBY:
ALD. KALWITZ AND HENNINGSEN
TITL:
Substitute resolution directing the Commissioner of Public Works to prepare a request for proposals relating to the sale of the City of Milwaukee's 5 downtown parking structures, subject to Common Council approval of the request for proposals.
ANLS:
- Analysis -
This resolution directs the Commissioner of Pubic Works to prepare a request for proposals relating to the sale of the City of Milwaukee's 5 downtown parking structures. The Commissioner shall submit the request for proposals to the Common Council for review and approval.
BODY:
Whereas, The City of Milwaukee has built and maintained parking structures for the purpose of providing sheltered, off-street public parking in the Central Business District since 1961; and
Whereas, The City of Milwaukee currently owns the following 5 downtown parking structures:
1. 535 North Milwaukee Street, 520 spaces, leased for private use.
2. 1000 North Water Street, 1,542 spaces, public parking.
3. 841 North 7th Street, 1,418 spaces, public parking.
4. 324 West Highland, 933 spaces, public parking.
5. 724 North 2nd Street, 491 spaces, public parking.
; and
Whereas, Private investment in the Central Business District in recent years has increased the availability of off-street public parking, thereby creating more competition for City-owned parking facilities; and
Whereas, Revenue from the operation of City parking structures has been insufficient to pay debt service associated with the construction and capital maintenance of such facilities, resulting in the continued withdrawal of parking fund reserves; and
Whereas, The sale of these parking structures may be in the City's fiscal interest; and
Whereas, The sale of these parking structures to the private sector would result in the placement of the structures on the property tax rolls, thereby enhancing the City's tax base; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Commissioner of Public Works is directed to prepare a request for proposals for the purchase of the City of Milwaukee's 5 downtown parking structures; and, be it
Further Resolved, That the request for proposals shall include the stipulation that, except for the facility located at 535 North Milwaukee Street, which is currently leased for private use, the facilities must continue to be operated as public parking facilities for a reasonable period of time after the transfer of such properties and that all contracts between the City and private businesses for parking access must be honored for the lifetime of the existing contract periods; and, be it
Further Resolved, That, upon completion of the request for proposals, the Commissioner of Public Works shall present the request for proposals to the Common Council for its review and approval.
ZDPT:
DFTR:
99269-2
JDO
7/14/99