IMMEDIATE ADOPTION
Number
260301
Version
ORIGINAL
Reference
001802, 250890
Sponsor
ALD. STAMPER
Title
Resolution releasing certain deed restrictions related to the 2003 conveyance of the former tax-deed vacant lot at 1212-14 West Cherry Street in the 15th Aldermanic District.
Analysis
This resolution releases deed restrictions imposed by the City of Milwaukee in 2003 requiring 1212-14 West Cherry Street remain open space and that no principal building may be erected thereon and that once 1212-14 West Cherry Street is combined with 1216-18 West Cherry Street, that the combined parcel shall not be divided without Common Council of the City of Milwaukee approval.
Body
Whereas, The City of Milwaukee (the “City”) conveyed 1212-14 West Cherry Street in 2003 to JED Investment Corp. with a quit claim deed that contained certain restrictions (Recorded document number 8570981 at the Milwaukee County Register of Deeds); and
Whereas, The City of Milwaukee vacant lot previously known as 1212-14 West Cherry Street has since been combined with 1216-18 West Cherry Street and is presently known as 1216 West Cherry Street (the “Property”); and
Whereas, The 2003 deed contains restrictions that the City lot at 1212-14 West Cherry Street remain open space and that no principal building may be erected thereon and that once 1212-14 West Cherry Street is combined with 1216-18 West Cherry Street that the combined parcel shall not be divided without Common Council of the City of Milwaukee approval (collectively “Deed Restrictions”); and
Whereas, The local Alderperson is supportive of the construction of NEU VUE’s mixed-used development; and
Whereas, The Deed Restrictions cannot be released except upon approval of the Common Council of the City of Milwaukee; and
Whereas, NEU VUE, LLC the current owner of the property and has requested the release of the Deed Restrictions in order to pursue assembl...
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