Number
061312
Version
ORIGINAL
Reference
051559
Sponsor
ALD. WITKOWIAK
Title
Resolution approving the Land Disposition Report for the Redevelopment Authority properties at 1320 West National Avenue and 1333 West Pierce Street for sale to Sunlite Building Corporation for industrial development, in the 12th Aldermanic District.
Analysis
This resolution permits the Redevelopment Authority to convey said land according to the conditions in the Land Disposition Report.
Body
Whereas, By adoption of File No. 051559, on April 11, 2006, the Common Council of the City of Milwaukee authorized conveyance of the tax-deed properties at 1320 West National Avenue and 1333 West Pierce Street to the Redevelopment Authority of the City of Milwaukee (“Authority”) for environmental remediation and disposition; and
Whereas, The Authority conducted environmental investigations and solicited development proposals for the acquisition and development of the subject Brownfield properties; and
Whereas, On February 15, 2007, the Authority held a Public Hearing on the proposed land sale as required by Wisconsin Statutes; and
Whereas, Pursuant to Wisconsin Statutes and as a condition precedent to the sale, lease or transfer of land, the Authority submits herewith a Land Disposition Report describing the terms and conditions of the proposed sale; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report dated February 15, 2007, with respect to the proposed sale of the following properties, is approved:
REDEVELOPMENT PROJECT AREA
Blight Elimination
PARCEL ADDRESSES
1320 West National Avenue
1333 West Pierce Street
REDEVELOPER
Sunlite Building Corporation
; and, be it
Further Resolved, That the proper City officials are directed to execute an Emerging Business Enterprises Agreement with the Redeveloper and any other City easements or documents necessary to close the transaction; and, be it
Further Resolved, That the sale proceeds, less sale and environmental expenses and a 25 percent development fee to the Authority, shall be deposited into the Reserve For Tax Deficit Fund.
Drafter
DCD/Redevelopment Authority
MFH:mfh
02/06/07/A