Number
031456
Version
ORIGINAL
Reference
920379
Sponsor
THE CHAIR
Title
Resolution declaring the City-owned parking lots at 1100 North Cass Street and 1101 North Marshall Street surplus to municipal needs and accepting an Option to Purchase from New Land Enterprises, LLP for mixed-use development, in the 4th Aldermanic District. (DCD)
Analysis
This resolution will declare the parking lots at 1100 North Cass Street and 1101 North Marshall Street surplus to municipal needs and permit the City of Milwaukee to convey the properties according to the conditions in the Land Disposition Report.
Body
Whereas, The parking lots at 1100 North Cass Street and 1101 North Marshall Street were advertised for sale through a request for proposals process with the goal of creating a high quality residential development that would add value to the neighborhood and the City and several proposals were received prior to the established deadline; and
Whereas, The Department of City Development reviewed the submittals and recommends acceptance of the proposal submitted by New Land Enterprises, LLP, who proposes to build a mixed-use development as outlined in the Land Disposition Report; and
Whereas, The City Plan Commission has determined that these properties are surplus to municipal needs; and
Whereas, Prior to the transfer or sale of these properties, 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-owned parking lots at 1100 North Cass Street and 1101 North Marshall Street are declared surplus to municipal needs and that the development proposal of New Land Enterprises, LLP is accepted; and, be it
Further Resolved, That the Commissioner of the Department of City Development is authorized to execute all legal documents, including the deed of conveyance on behalf of the City of Milwaukee, and to close the transaction according to the terms of the Land Disposition Report; and, be it
Further Resolved, That the properties are 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 a City-Wide Transportation Plan is adopted by the Common Council; 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:MP:mp
02/10/04/A