Number
011462
Version
SUBSTITUTE 1
Reference
000212
Sponsor
THE CHAIR
Title
Substitute resolution amending the disposition of the surplus, improved, tax-deed property at 2207-11 South Kinnickinnic Avenue and accepting an unsolicited Offer to Purchase from Au Bon Appetit Enterprises, LLC, in the 14th Aldermanic District.
Analysis
This substitute resolution authorizes the sale of said property to Au Bon Appetit Enterprises, LLC, by accepting an unsolicited Offer to Purchase for mixed-use redevelopment including catering and apartments.
Body
Whereas, On June 13, 2000, by adoption of File No. 000212, the Common Council of the City of Milwaukee approved the surplus declaration of the property at 2207-11 South Kinnickinnic Avenue and authorized its sale via the open listing method; and
Whereas, The property was advertised for sale and no acceptable offers were received; and
Whereas, Au Bon Appetit Enterprises, LLC, an established catering business, has offered to purchase this mixed-use property for $1.00 to renovate it for its catering business with rental units on the upper floor; and
Whereas, The Department of City Development has determined that the purchase price is reasonable given the structural condition of the property and the estimated cost of substantial rehabilitation to make the property code compliant and suitable for commercial re-use; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the Department of City Development is authorized and directed to sell the surplus, improved, tax-deed property at 2207-11 South Kinnickinnic Avenue, Tax Key No. 466-0803-000-x, to Au Bon Appetit Enterprises, LLC, at a fixed price of $1.00; and, be it
Further Resolved, That the Offer to Purchase from Au Bon Appetit Enterprises, LLC, is accepted and the Commissioner of the Department of City Development or designee is authorized to close the transaction upon approval of renovation and financing plans.
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