City of Milwaukee - File #: 130901

• File #: 130901
• Version: 2
• Type: Resolution
• Status: Passed
• File created: 10/15/2013
• In control: COMMON COUNCIL
• Final action: 11/26/2013
• Title: Substitute resolution authorizing and approving conveyance of the Milwaukee Public Schools property located at 2760 N. 1st Street (Malcolm X) to 2760 Holdings, LLC (6th Aldermanic District).
• Sponsors: ALD. COGGS
• Indexes: MILWAUKEE PUBLIC SCHOOLS, SCHOOL BUILDINGS

Date	Ver.	Action By	Action	Result	Tally
12/5/2013	2	MAYOR	SIGNED
11/26/2013	2	COMMON COUNCIL	ADOPTED	Pass	11:4
11/20/2013	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	SUBSTITUTED; Minutes note: Ald. Wade moved substitution of the file with Proposed Substitute A. There were no objections.	Pass	5:0
11/20/2013	2	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Gregory Thornton, Milwaukee Public Schools Superintendent Larry Miller, Milwaukee School of Board Directors District 5 Pres. Willie Hines, Jr., 15th Aldermanic District Ald. Milele Coggs, 6th Aldermanic District Jeffrey Osterman, Legislative Reference Bureau Elaine Miller, Department of City Development Thomas Gartner, City Attorney's Office James Phelps, JCP Construction Ald. Ashanti Hamilton, 1st Aldermanic District	Pass	4:1
11/14/2013	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/14/2013	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/14/2013	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/14/2013	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/14/2013	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/29/2013	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HELD TO CALL OF THE CHAIR; Minutes note: Individuals appearing: Pres. Willie Hines, 15th Aldermanic District Ald. Milele Coggs, 6th Aldermanic District Rocky Marcoux, Department of City Development Commissioner Gregory Thornton, Milwaukee Public Schools Superintendent Michael Bonds, Milwaukee Public Schools - Office of Board Governance President Vincent Moschella, Deputy City Attorney Larry Miller, Milwaukee Public Schools - Office of Board Governance	Pass	5:0
10/28/2013	1	CITY CLERK	DRAFT SUBMITTED
10/23/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/23/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/23/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/23/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/23/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/23/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/23/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/22/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/15/2013	0	COMMON COUNCIL	ASSIGNED TO

Number

130901

Version

SUBSTITUTE 2

Reference

Sponsor

ALD. COGGS

Title

Substitute resolution authorizing and approving conveyance of the Milwaukee Public Schools property located at 2760 N. 1^st Street (Malcolm X) to 2760 Holdings, LLC (6^th Aldermanic District).

Analysis

This resolution authorizes and approves the conveyance of the Milwaukee Public Schools property at 2760 N. 1^st Street (the former Malcolm X Academy) to 2760 Holdings, LLC, for development of affordable housing, commercial space and a community center, with a portion of the structure being leased back to Milwaukee Public Schools for educational purposes.  It further authorizes the proper City officers to execute the necessary instruments of conveyance.

...Body

Whereas, The former Malcolm X Academy, a Milwaukee Public Schools facility located at 2760 N. 1^st Street, is vacant and surplus to the needs of Milwaukee Public Schools; and

Whereas, 2760 Holdings, LLC, has offered to purchase this property for a total price of $2,145,000 (subject to ordinary pro-rations and credits), and intends to convert a portion of it into affordable housing, commercial space and a community center, with the remainder being leased back to Milwaukee Public Schools to be used for educational purposes; and

Whereas, Pursuant to s. 119.60(2), Wis. Stats., property used for school purposes shall be sold by the City only upon written request of the Milwaukee Board of School Directors; and

Whereas, On October 14, 2013, the Milwaukee Board of School Directors voted unanimously to submit to the City a request for authorization to convey the property in question to 2760 Holdings, LLC; and

Whereas, On November 1, 2013, the Milwaukee Board of School Directors voted unanimously to submit to the City a revised request to sell the property located at 2760 N. 1^st Street to 2760 Holdings, LLC, pursuant to the terms outlined in a revised term sheet, a copy of which is attached to this Common Council file and labeled "ATTACHMENT 1"; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that conveyance of the Milwaukee Public Schools property at 2760 N. 1^st Street in accordance with the attached term sheet (ATTACHMENT 1) is authorized and approved; and, be it

Further Resolved, That the proper City officers, or their designees, are authorized to execute the necessary instruments of conveyance on the City's behalf; and, be it

Further Resolved, That the net sale proceeds from this conveyance shall be provided to Milwaukee Public Schools.

Requestor

Drafter

LRB149913-2

Jeff Osterman

11/14/2013