Number
161506
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. LEWIS
Title
Substitute resolution authorizing site control to a potential developer of a new library at the City-owned property located at 7717 West Good Hope Road, in the 9th Aldermanic District.
Analysis
This substitute resolution authorizes the potential developer of a new library to receive site control of City-owned Property according to the conditions in a Site Control Report.
Body
Whereas, The City of Milwaukee (“City”) acquired the former Granville Town Hall located at 7717 West Good Hope Road (the “Property”) when the City annexed the 16.5 square-mile Town of Granville in 1962; and
Whereas, The City declared the Property surplus to municipal needs in 1981; and
Whereas, The Milwaukee Public Library (“MPL”) issued a request for proposals in 2014 to seek proposals to develop a new location for the Mill Road Library; and
Whereas, MPL received multiple proposals and selected a proposal by Maures Development Group, LLC and CommonBond Communities that included mixed-income apartments, as part of the development, in addition to the library; and
Whereas, Maures Development Group, LLC has now partnered exclusively with Royal Capital Group, LLC, as a co-developer, and continues to work with the MPL Board on the design of the project; and
Whereas, The Department of City Development (“DCD”) recommends providing a letter of site control to Maures Development Group, LLC and Royal Capital Group, LLC or their successors or assignees (“Buyers”) to acquire and redevelop the Property as summarized in a Site Control Report, a copy of which is attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Site Control Report is approved and that DCD is authorized to provide to the Buyers, or assignees, a limited term letter of site control for the purposes of application for Federal Low-Income Housing Tax Credits allocated through the Wisconsin Housing and Economic Development Authority, materially consistent with the Site Control Report.
Drafter
DCD:Amy.Turim:aet
02/17/17