Number
251136
Version
ORIGINAL
Reference
Sponsor
ALD. BAUMAN
Title
Resolution authorizing the Redevelopment Authority of the City of Milwaukee to enter into a Purchase and Sale Agreement with SOHI Corner, Inc. for the approximate 9,874 square foot parking lot at 748 North 27th Street, in the 4th Aldermanic District.
Analysis
This resolution will permit the Redevelopment Authority of the City of Milwaukee to convey the parking lot according to the conditions in a Land Disposition Report.
Body
Whereas, SOHI Corner, Inc. (“SOHI”) is an abutting property owner and has offered to purchase the parking lot at 748 North 27th Street from the Redevelopment Authority of the City of Milwaukee (“RACM”)to expand its parking capacity for its tenants at 760 North 27th Street according to the attached Land Disposition Report; and
Whereas, On November 20, 2025, RACM will hold a Public Hearing on the proposed 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, RACM submits a Land Disposition Report, a copy of which is attached to this Common Council File, 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 November 18, 2025, with respect to the proposed sale of 748 North 27th Street, the parking lot, is approved pending final approval from RACM on November 20, 2025; and, be it
Further Resolved, That the net proceeds from the sale shall be returned to the RACM General Fund.
Drafter
DCD:Rosita.Ross:rr
11/04/25/A