Number
011355
Version
ORIGINAL
Reference
920379
Sponsor
ALD. SANCHEZ
Title
Resolution declaring the City parking lot at 1653 South 7th Street surplus to municipal needs and accepting an unsolicited Offer to Purchase from Kunzelmann Esser Loft Apartments, LLC for use as additional parking for its adjacent property, in the 12th Aldermanic District. (DCD-Real Estate)
Analysis
This resolution will declare a City-owned parking lot surplus to municipal needs and permit the City of Milwaukee to convey the property according to the conditions in the Land Disposition Report.
Body
Whereas, The parking lot at 1653 South 7th Street receives limited use and the Department of Public Works has indicated that the property is surplus to municipal needs; and
Whereas, The parking lot adjoins the former Kunzelmann Esser furniture store property at 710 West Historic Mitchell Street that is being redeveloped by the Gorman Company as a mixed use property; and
Whereas, The City of Milwaukee has received an unsolicited proposal from the Gorman Company on behalf of Kunzelmann Esser Loft Apartments, LLC ("Buyer") to purchase 1653 South 7th Street to provide additional parking for its adjoining property; and
Whereas, The Department of City Development ("DCD") has reviewed the proposed site plan and recommends acceptance of the Offer to Purchase from the prospective buyer; and
Whereas, The City Plan Commission has determined that the parking lot is surplus to municipal needs; and
Whereas, Prior to the transfer or sale of the property, an exemption is required from the provision of Common Council File No. 920379, which placed a moratorium on the purchase, sale or construction of any new or existing City parking facilities until a City-wide Transportation Plan is adopted by the Common Council; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the City parking lot at 1653 South 7th Street is declared surplus to municipal needs and that the unsolicited Offer to Purchase submitted by the Kunzelmann Esser Loft Apartments, LLC is accepted; and, be it
Further Resolved, That the Commissioner of DCD, or her designee, is authorized to execute an Offer to Purchase and/or an Agreement for Sale on behalf of the City of Milwaukee and to close the transaction according to the terms of the Land Disposition Report, upon DCD approval of final site plans and financing; and, be it
Further Resolved, That said property is exempt from the provision of Common Council File No. 920379, which placed a moratorium on the purchase, sale or construction of any new City parking facilities until the Council adopts a City-wide Transportation Plan; and, be it
Further Resolved, That the net proceeds from the sale shall be deposited in the Department of Public Works' Parking Fund Account or such other accounts as may be determined by the Commissioner of Public Works or the Comptroller of the City of Milwaukee.
Drafter
DCD-Real Estate
MP:bmm
01/22/02/A