Number
050949
Version
ORIGINAL
Reference
Sponsor
ALD. BAUMAN
Title
Resolution declaring the vacant lots at 751 North 22nd Street, 753-57 North 22nd Street and 2201-07 West Wells Street surplus to municipal needs and authorizing acceptance of an Offer to Purchase from Weas Development for residential construction in the 4th Aldermanic District.
Analysis
This resolution will declare City-owned vacant lots surplus to municipal needs and will permit the City to accept an Offer to Purchase.
Body
Whereas, The contiguous vacant lots at 751 North 22nd Street, 753-57 North 22nd Street and 2201-07 West Wells Street constitute a buildable lot that has been advertised for sale and development by the Department of City Development (“DCD”); and
Whereas, Weas Development has offered to purchase these lots for the construction of seven rowhouses as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, The lots will be sold in “as is” condition without representations or warranties including but not limited to soil quality and subsurface condition; and
Whereas, The City Plan Commission has determined that these lots are surplus to municipal needs; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the vacant lots at 751 North 22nd Street, 753-57 North 22nd Street and 2201-07 West Wells Street are declared surplus to municipal needs and that the Offer from Weas Development is accepted; and, be it
Further Resolved, That the Commissioner of DCD or designee is authorized to perform such acts as necessary to carry out the intent of this resolution including accepting the Offer, negotiating and executing a development agreement, executing the deed and releasing any deed restrictions that prevent construction; and, be it
Further Resolved, That the proceeds from said sale, less sale expenses and a 20 percent disposition cost reimbursement paid to the Redevelopment Authority of the City of Milwaukee, be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD:DAC:dac
11/15/05/A