Number
130992
Version
ORIGINAL
Reference
Sponsor
ALD. COGGS
Title
Resolution authorizing the sale of a portion of the City-owned vacant lot at 220 East Concordia Avenue to Victory Garden Initiative, Inc. for garden use and to sell the remaining remnant to the adjoining owner, Towns End Real Estate, LLC, in the 6th Aldermanic District.
Analysis
This resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Sections 304-49-5 and 304-49-7, Milwaukee Code of Ordinances.
Body
Whereas, The Victory Garden Initiative, Inc. ("VGI"), a non-profit corporation, has been leasing the City-owned Development Property at 220 East Concordia Avenue and has been operating a successful urban garden on the site since 2010; and
Whereas, VGI desires to continue its urban gardening program on a permanent basis and has submitted an unsolicited Offer to Purchase the majority of the lot; and
Whereas, The lot has limited development potential due to its interior location and long and narrow configuration; and
Whereas, The remaining remnant is suitable for conveyance to the adjoining owner to improve access and parking for its apartment building at 227 East Townsend Avenue and Towns End Real Estate, LLC ("Towns End") has agreed to execute an Offer to Purchase and to have the land joined with its property; and
Whereas, A Land Disposition Report, a copy of which is attached to this Common Council File, summarizes the conveyance terms and conditions for both transactions; and
Whereas, Section 304-49-5, Milwaukee Code of Ordinances, requires Common Council approval of the sale of Development Property and Section 304-49-7, Milwaukee Code of Ordinances, allows the City of Milwaukee ("City") to accept unsolicited Offers to Purchase property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The Department of City Development ("DCD") has reviewed the use proposal and has determined that the sale for nominal consideration of the majority of the lot to VGI for continued use as an urban garden and sale of the remaining remnant for use as open space for the adjoining apartment building for nominal consideration represents fair compensation to the City considering the contribution to the neighborhood and disposition of a lot with limited building potential; and
Whereas, The deeds of conveyance to both buyers shall require that the City property that is conveyed be fully taxable for real estate tax purposes pursuant to Section 304-49-12, Milwaukee Code of Ordinances; and
Whereas, The conveyance to VGI will include a restriction that the property be used for gardening and open space purposes, and the conveyance to Towns End will contain restrictions requiring that the property be used as open space and that it must be joined to Towns End's adjoining property to create a single parcel; and
Whereas, Violation of deed restrictions for both conveyances may result in reversion of title to the City; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Commissioner of DCD, or designee, is authorized to accept the unsolicited Offers to Purchase submitted by Victory Garden Initiative, Inc. and Towns End Real Estate, LLC for the City-owned Development Property at 220 East Concordia Avenue as outlined in the Land Disposition Report; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to close the transactions, release any deed restrictions and execute other legal documents on behalf of the City and to close the transactions according to the terms of the Land Disposition Report; and, be it
Further Resolved, That the sales proceeds, less sales expenses and a 30 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee, shall be credited to the Tax Deed Fund Account No. 0001-334106.
Drafter
DCD/Real Estate
YSL:ysl
11/05/13/A