NUMB:
971987
VERS:
SUBSTITUTE 1
REF:
971816
XXBY:
ALD. D'AMATO AND HENNINGSEN
TITL:
Substitute resolution accepting an unsolicited offer from New Land Enterprises to purchase the unimproved and vacated street right-of-way at the northwest corner of East Lyon and North Van Buren Streets for assemblage with its adjoining property and the development of 45 condominiums.
ANLS:
- Analysis -
This substitute resolution authorizes the sale of vacated right-of-way to create a buildable parcel for condominium development in the Park East Redevelopment Project Area.
BODY:
Whereas, The City of Milwaukee ("City"), in Common Council File No. 951592 adopted on June 4, 1996, approved vacation of excess street right-of-way of irregular shape containing approximately 8,843 square feet of land at the northwest corner of East Lyon and North Van Buren Streets, title to which reverted to the City; and
Whereas, The City, in Common Council File No. 971816 adopted on March 20, 1998, approved vacation of an unimproved right-turn bypass containing approximately 1,500 square feet of land at the northwest corner of East Lyon and North Van Buren Streets, title to which reverted to the City; and
Whereas, The property owner abutting these vacated remnants, New Land Enterprises, has tendered a $50,000 offer to purchase and assemble the site for the construction of 45 condominiums to be priced from $150,000 to $285,000, provided that the City deliver environmentally clean land at closing and without title encumbrances of any kind from the Department of Natural Resources; and
Whereas, The Department of City Development ("DCD") has reviewed preliminary site and building plans, the development budget and developer's schedule, and determined that the proposed project appears feasible and conforms with the Redevelopment Authority of the City of Milwaukee's ("Authority") Plan for the Park East Area; and
Whereas, The DCD and the Authority have assisted the develope...
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