NUMB:
981745
VERS:
Substitute 1
REF:
XXBY:
TITL:
Substitute resolution authorizing the Commissioner of Public Works to seek proposals to sell the City of Milwaukee's five downtown parking structures.
ANLS:
- ANALYSIS - This resolution authorizes the Commissioner of Pubic Works to seek proposals relative to the sale of five City-owned parking structures.
BODY:
Whereas, The City of Milwaukee currently owns five (5) downtown parking structures ("Parking Structures") as further defined below:
LOCATION SIZE USAGE
535 North Milwaukee Street 520 Spaces Lease to Johnson Controls
1000 North Water Street 1,542 Spaces Public Parking
841 North 7th Street 1,418 Spaces Public Parking
324 West Highland 933 Spaces Public Parking
724 North 2nd Street 491 Spaces Public Parking
; and
Whereas, The private sector is better suited than City Government to provide off-street parking; and
Whereas, Sale of the Parking Structures to the private sector will place these Parking Structures on the property tax rolls; and
Whereas, Sale of these Parking Structures may be in the City's fiscal interest; and
Whereas, The City proposes, by this resolution, to authorize the Commissioner of Public Works to solicit proposals and negotiate terms for the sale of the Parking Structures: now, therefore, be it
Resolved, That the Common Council hereby authorizes the Commissioner of Public Works to solicit proposals and negotiate terms for the sale of the Parking Structures, to do all acts and execute and deliver all documents as may be necessary and convenient to solicit proposals and to enlist the support of the City Attorney, City Comptroller, City Budget Director, Commissioner of City Development and outside commercial real estate experts and its subcontractors, to effectuate the sale of the ...
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