NUMB:
970862
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution declaring as surplus the City-owned vacant lot located at 1740 South 12th Street and accepting an Offer to Purchase received from Walker's Point Development Corporation for the construction of ten townhomes, in the 12th Aldermanic District. (Department of City Development - Real Estate)
ANLS:
- Analysis -
This resolution will result in the sale of said parking lot to a nonprofit corporation for the special purpose of constructing housing for low income families.
BODY:
Whereas, The City of Milwaukee assembled 1740 South 12th Street between 1955 and 1960 for parking purposes; and
Whereas, The parcel has been used as a parking lot since 1986, and during recent years has been leased to the Greater Mitchell Street Business Association for approximately $2,640 annually; and
Whereas, The Greater Mitchell Street Business Association reports that this parking lot is underutilized and is therefore surplus to the needs of the merchants and the public in the area; and
Whereas, The Commissioner of the Department of Public Works, and subsequently the City Plan Commission, have determined that the parcel is surplus to the City's needs; and
Whereas, Walker's Point Development Corporation, a nonprofit corporation qualified and experienced in community development, has offered to purchase the said lot from the City of Milwaukee for $17,100 to construct ten townhomes at an estimated total investment of over $750,000; and
Whereas, The Commissioner of the Department of City Development has reviewed the plans put forth by the Walker's Point Development Corporation and determined that the land re-use is appropriate and recommends acceptance of the Offer to Purchase; and
Whereas, In lieu of termination of the above referenced lease, the Greater Mitchell Street Business Association has offered to enter into a lease amendment with the City of Milwaukee whereby it would assum...
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