Number
230327
Version
ORIGINAL
Reference
031163, 200933, 211510
Sponsor
ALD. BROSTOFF
Title
Resolution authorizing the sale of the City-owned property at 1136-46 East North Avenue, in the 3rd Aldermanic District.
Analysis
This resolution authorizes the sale of City-owned Development Property at 1136-46 East North Avenue according to the conditions in a Land Disposition Report pursuant to Section 304-49-5 and 304-49-8, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee (“City”) operated 1136-46 East North Avenue (the “City Parcel”) as a Department of Public Works Ward Yard until 1991; and
Whereas, The Common Council of the City declared the Property surplus for municipal needs by adopting Common Council File No. 031163; and
Whereas, In 2020, the Department of City Development (“DCD”) issued a Request For Proposal (“RFP”) for the City Parcel; and
Whereas, DCD received six submittals by the RFP due date, and DCD assembled a RFP review team to evaluate and score the RFP submittals based upon the review criteria stated in the RFP; and
Whereas, The RFP review team recommended the proposal submitted by General Capital Group LLP and KG Development Group LLC operating through GenCap KG North Ave 50, LLC (collectively the “Developer”) and GenCap KG 41, LLC or assigns, to design and develop the property with a mixed-use building; and
Whereas, The Developer has an accepted offer to purchase the two privately owned parcels at 1132 and 1164 East North Avenue (the “Private Parcels”) to acquire, combine and redevelop with the City Parcel a new mixed-use development; and
Whereas, The City Parcel and Private Parcels when combined represent the “Development Site” that will include a new mixed-use development with approximately 91-affordable housing units and a kitchen incubator used for educational training; and
Whereas, The Common Council of the City of Milwaukee approved Common Council File No. 200933 authorizing exclusive rights to negotiate for...
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