NUMB:
971114
VERS:
ORIGINAL
REF:
970382
XXBY:
THE CHAIR
TITL:
Resolution declaring surplus and approving the conveyance of a 27 acre parcel of vacant, unimproved land at South 43rd Street and West Morgan Avenue and authorizing transfer of site preparation and development funds for this land to the Redevelopment Authority of the City of Milwaukee.(Department of city Development)
ANLS:
- Analysis -
This resolution will provide for the transfer of title to land commonly referred to as Cherokee Point to the Redevelopment Authority for disposition and provide the Redevelopment Authority with funds to begin preparing and marketing the site for residential reuse.
BODY:
Whereas, The City of Milwaukee ("City"), in Common Council File No. 970382 adopted on July 25, 1997, agreed to release certain reversionary rights to land owned by Milwaukee County in exchange for 1) title to 27 acres of vacant, unimproved County land located in the vicinity of South 43rd Street and West Morgan Avenue; and, 2) payment of $250,000 to the City for site preparation and other expenses related to the redevelopment of the land; and
Whereas, Milwaukee County, subsequent to affirmative action taken by its Board of Supervisors on September 25, 1997, executed and delivered deeds to the land and deposited $250,000 with an escrow agent for the transaction; and
Whereas, The City now desires to expeditiously plan for and carry out the development of this land for residential reuse; and
Whereas, The Redevelopment Authority of the City of Milwaukee ("Authority") is willing to accept title to the land and is prepared to undertake and carry out real estate development activities on behalf of the City, including, but not limited to:
1. Engaging consultants as may be required for environmental and geotechnical investigations and remedial action, for real estate valuation and other analyses, and for site engineering and land use planning.
2. Soliciting land developmen...
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