Number
240164
Version
ORIGINAL
Reference
Sponsor
ALD. CHAMBERS
Title
Resolution authorizing the sale of 6137, 6143 and 6147 West Fond du Lac Avenue, City-owned tax-deed parcels, in the 2nd Aldermanic District.
Analysis
This resolution authorizes the sale of City-owned Development Properties to Jackson’s Soul Food Redefined, LLC, according to the conditions in a Land Disposition Report.
Body
Whereas, Jackson’s Soul Food Redefined, LLC (“Buyer”) or its assignee, seeks to develop and renovate the City-owned parcels at 6137, 6143 and 6147 West Fond du Lac Avenue (the “Properties”) into a soul food restaurant with a drive-through; and
Whereas, Section 304-49-4 of the Milwaukee Code of Ordinances allows the City of Milwaukee (“City”) to accept unsolicited offers to purchase property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The Department of City Development (“DCD”) recommends sale to the Buyer, to acquire and redevelop the Properties as summarized in a Land Disposition Report (“LDR”) and a Due Diligence Checklist (“DDC”), copies of which are attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the LDR and DDC are approved and that DCD is authorized to enter into a Purchase and Sale Agreement (“PASA”) with the Buyer, or assignee, materially consistent with the LDR and then convey the property to the Buyer, or assignee, in accordance therewith; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign the PASA, deed and requisite closing documents and to close the transaction and to take such actions as may be needed to effectuate the terms of the LDR and this resolution; and, be it
Further Resolved, That the sale proceeds, less sale and marketing expenses and a 30 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee, shall be credited to the Delinquent Tax Fund.
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