Number
040853
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution declaring the improved, tax-deed property at 3070 North Dr. Martin Luther King, Jr. Drive surplus to municipal needs and accepting an unsolicited Offer to Purchase from James Lindsay for redevelopment of a carry-out restaurant pursuant to City Code of Ordinance 304-49-17, in the 6th Aldermanic District. (DCD)
Analysis
This resolution will declare said City-owned lot surplus to municipal needs, will permit the City to accept an unsolicited offer pursuant to Section 304-49-17, Milwaukee Code of Ordinances, and will authorize conveyance of the property according to the Land Disposition Report.
Body
Whereas, The City of Milwaukee ("City") received an application from James Lindsay to acquire and redevelop the tax delinquent brownfield at 3070 North Dr. Martin Luther King, Jr. Drive through the program outlined in Section 75.106, Wisconsin Statutes; and
Whereas, The City obtained state funding for environmental tests at the site, elected to acquire the site through the In Rem foreclosure process and took title to the site in July 2004; and
Whereas, After foreclosure, James Lindsay converted his 75.106 application to an unsolicited Offer to Purchase as outlined in the Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-17, Milwaukee Code of Ordinances, is an appropriate mechanism for sale of the property in light of James Lindsay's past investment in plan preparation and his offer to provide the City with compensation, both monetary and non-monetary; and
Whereas, James Lindsay proposes to redevelop the parcel as a carry-out restaurant; and
Whereas, The City Plan Commission has determined that the property is surplus to municipal needs; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the property at 3070 North Dr. Martin Luther King Jr. Drive is declared surplus to municipal needs; and, be it
Further Resolved, That the unsolicited Offer to Purchase submitted by James Lindsay and outlined in the Land Disposition Report is accepted; and, be it
Further Resolved, That the Commissioner of the Department of City Development ("DCD"), or designee, is authorized to execute an Offer to Purchase and/or an Agreement for Sale on behalf of the City and to close the transaction according to the terms of the Land Disposition Report upon DCD approval of final plans and financing; and, be it
Further Resolved, That the sale proceeds, less sale expenses and a 20 percent marketing and development fee to the Redevelopment Authority of the City of Milwaukee, shall be deposited into the Reserve for Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD/Real Estate
MFH:mfh
10/11/04/A