Number
040962
Version
ORIGINAL
Reference
040407
Sponsor
THE CHAIR
Title
Resolution accepting a Proposal for the sale of the surplus, City-owned property at 4243 West North Avenue and the adjoining parking lot for development of retail space in the 15th Aldermanic District. (DCD-Real Estate)
Analysis
This resolution authorizes the sale of said property to New Covenant Housing Corporation, Inc. by accepting its Proposal and also permits the City of Milwaukee to convey the properties according to the conditions in the Land Disposition Report.
Body
Whereas, By adoption of File No. 040407, the Common Council of the City of Milwaukee authorized the surplus declaration and marketing of the former Finney Library, 4243 West North Avenue, and the adjoining parking lot; and
Whereas, The Department of City Development (“DCD”) advertised a Request for Proposal specifying Redevelopment Criteria; and
Whereas, Four Proposals were received prior to the established deadline and were reviewed according to the established criteria; and
Whereas, DCD recommends sale of said property to New Covenant Housing Corporation, Inc. for commercial mixed-use as outlined in a Land Disposition Report, a copy of which is attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Proposal submitted by New Covenant Housing Corporation, Inc. for the former Finney Library and adjoining parking lot is accepted; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to execute an Option to Purchase, Agreement for Sale and Deed on behalf of the City and to close the transaction according to the terms of the Land Disposition Report conditioned on DCD approval of the final building plans and receipt of a firm financing commitment; and, be it
Further Resolved, That the proper City officials and/or the Commissioner of DCD, or designee, is authorized to execute any other...
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