Number
010225
Version
ORIGINAL
Reference
000420
Sponsor
ALD. GORDON
Title
Resolution revising the method of disposition for the properties at 2144-48 and 2200 West Fond du Lac Avenue for the redevelopment of the Fondy Food Market by the Fondy Food Center, Inc. and to declare an additional property surplus for inclusion in the development, in the 7th Aldermanic District. (DCD-Real Estate)
Analysis
This resolution amends the disposition method of two properties for the redevelopment of the Fondy Food Market to allow for a lease with the City of Milwaukee and declares an additional property surplus to municipal needs to include it with the properties to be leased.
Body
Whereas, In File No. 000420 adopted on July 25, 2000, the Common Council approved the disposition by the Redevelopment Authority of the City of Milwaukee ("Authority") of the Fondy Food Market at 2200 West Fond du Lac Avenue and the adjacent land at 2144-48 West Fond du Lac Avenue to the Fondy Food Center, Inc. for development of a public market; and
Whereas, Fondy Food Center, Inc. has requested that it lease the property from the City of Milwaukee ("City") rather than purchasing the property from the Authority; and
Whereas, Fondy Food Center, Inc. is willing to assign to the City its rights to purchase property from the Authority and the Executive Director-Secretary of the Authority has approved such assignment; and
Whereas, Fondy Food Center, Inc. has agreed to enter into a long-term lease with the City and the City Attorney and the Commissioner of the Department of City Development ("DCD") have substantially completed lease negotiations with the prospective tenant according to the terms summarized in the Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, The City is expected to acquire an adjacent vacant lot at 2210-24 West Fond du Lac Avenue through an In-Rem action and the Fondy Food Center, Inc. has requested that...
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