Number
170202
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. HAMILTON
Title
Substitute resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2510-18 West Capitol Drive, in the 1st Aldermanic District.
Analysis
This substitute 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 304-49-8, Milwaukee Code of Ordinances.
Body
Whereas, Hope Street Ministry, Inc. (“HSM”) submitted an unsolicited Offer to Purchase the City-owned property at 2510-18 West Capitol Drive (the “Property”); and
Whereas, HSM desires to raze the existing building at the Property and construct a new multi-purpose building that will expand HSM’s mission as summarized in the Land Disposition Report and Due Diligence Checklist (“LDR”), a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-8 of the 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 Common Council recognizes that the City acquired the Property in 2013 by tax foreclosure, that it is vacant and boarded, that it is a blighting influence on the neighborhood, that there are code violations, that the City has not received other offers on this Property and that but for HSM desiring to acquire and raze it, eventually the City would be expected to raze the existing building; and
Whereas, The Common Council also recognizes that HSM owns the parcel at 2522 West Capitol Drive, which is next door to the subject Property, and that HSM operates its ministry at 2522 West Capitol Drive and that there would be benefits to HSM and to the City if HSM acquires the subject Property for razing and integration and use with its existing facility; and
Whereas, The Common Council also recognizes that HSM will engage in a private fundraising campaign for funds to raze and construct and that there are remedies for the City to reacquire the Property should HSM be unable to raise the money to tear down the building; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City, by its Common Council, recognizes the benefits of lessening blight by having HSM acquire the Property; by HSM raising money and HSM razing the building, instead of the City; by HSM using the Property in conjunction with its existing facility for its operations; and by the Property being returned to the tax rolls; and, be it
Further Resolved, That the foregoing benefits constitute valuable non-monetary consideration and coupled with the monetary purchase price in the Offer, constitute fair consideration; and, be it
Further Resolved, That the LDR is approved and the Commissioner of DCD, or designee, is authorized to sign and accept HSM’s Offer, in the form that is part of this file or in substantially similar form, and to convey the Property to HSM and to take such further actions, as may be needed, to effectuate the terms of the LDR and this resolution; and, be it
Further Resolved, That the sale proceeds shall be deposited into the Delinquent Tax Fund.
Drafter
DCD:Matt.Haessly:mfh
05/17/17