City of Milwaukee - File #: 040962

• File #: 040962
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 11/3/2004
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 11/23/2004
• Title: Resolution accepting a Proposal for the sale of the surplus, City-owned property at 4243 West North Avenue and the adjoining parking lot for development of retail space in the 15th Aldermanic District. (DCD-Real Estate)
• Sponsors: THE CHAIR
• Indexes: PROPERTY SALES, SURPLUS PROPERTY

Date	Ver.	Action By	Action	Result	Tally
12/1/2004	0	MAYOR	SIGNED
11/23/2004	0	COMMON COUNCIL	ADOPTED	Pass	15:0
11/16/2004	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Speakers: Karen Taylor, Dept. of City Development Johnny Moutry, Exective Director, New Convenant Housing Corp. Inc. Attorney Roy Evans for New Convenant Housing Corp. Inc. Tim McMurtry, Staff Assistant for Ald. Hines	Pass	5:0
11/9/2004	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/9/2004	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/5/2004		ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	REFERRED TO
11/3/2004	0	COMMON COUNCIL	ASSIGNED TO

Number

040962

Version

ORIGINAL

Reference

040407

Sponsor

THE CHAIR

Title

Resolution accepting a Proposal for the sale of the surplus, City-owned property at 4243 West North Avenue and the adjoining parking lot for development of retail space in the 15th Aldermanic District. (DCD-Real Estate)

Analysis

This resolution authorizes the sale of said property to New Covenant Housing Corporation, Inc. by accepting its Proposal and also permits the City of Milwaukee to convey the properties according to the conditions in the Land Disposition Report.

Body

Whereas, By adoption of File No. 040407, the Common Council of the City of Milwaukee authorized the surplus declaration and marketing of the former Finney Library, 4243 West North Avenue, and the adjoining parking lot; and

Whereas, The Department of City Development ("DCD") advertised a Request for Proposal specifying Redevelopment Criteria; and

Whereas, Four Proposals were received prior to the established deadline and were reviewed according to the established criteria; and

Whereas, DCD recommends sale of said property to New Covenant Housing Corporation, Inc. for commercial mixed-use as outlined in a Land Disposition 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 Proposal submitted by New Covenant Housing Corporation, Inc. for the former Finney Library and adjoining parking lot is accepted; and, be it

Further Resolved, That the Commissioner of DCD, or designee, is authorized to execute an Option to Purchase, Agreement for Sale and Deed on behalf of the City and to close the transaction according to the terms of the Land Disposition Report conditioned on DCD approval of the final building plans and receipt of a firm financing commitment; and, be it

Further Resolved, That the proper City officials and/or the Commissioner of DCD, or designee, is authorized to execute any other legal documents necessary to close the transaction including any required easements; and, be it

Further Resolved, That the net proceeds from the sale shall be returned to the Library Fund, less all sale and marketing expenses and a 20 percent development fee to be paid to the Redevelopment Authority of the City of Milwaukee.

Drafter

DCD-Real Estate

KT:kt

11/03/04/A