City of Milwaukee - File #: 200932

• File #: 200932
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 11/4/2020
• In control: COMMON COUNCIL
• Final action: 11/24/2020
• Title: Substitute resolution authorizing an Exclusive Right to Negotiate for the City-owned properties at 310 West Locust Street, 2971-75 and 2977-79 North Dr. Martin Luther King Jr., Drive, in the 6th Aldermanic District.
• Sponsors: ALD. COGGS
• Indexes: MILWAUKEE PUBLIC LIBRARY, REDEVELOPMENT, URBAN

Date	Ver.	Action By	Action	Result	Tally
12/2/2020	1	MAYOR	SIGNED
11/24/2020	1	COMMON COUNCIL	ADOPTED	Pass	15:0
11/17/2020	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Matt Haessly, Dept. of City Development Michael Emem, EMEM Group LLC	Pass	5:0
11/9/2020	1	CITY CLERK	DRAFT SUBMITTED
11/4/2020	0	COMMON COUNCIL	ASSIGNED TO

Number
200932
Version
SUBSTITUTE 1
Reference
191277
Sponsor
ALD. COGGS
Title
Substitute resolution authorizing an Exclusive Right to Negotiate for the City-owned properties at 310 West Locust Street, 2971-75 and 2977-79 North Dr. Martin Luther King Jr., Drive, in the 6th Aldermanic District.
Analysis
This substitute resolution authorizes the Department of City Development to issue an Exclusive Right to Negotiate to General Capital Group, LLC and EMEM Group, LLC or assignee allowing it a period of time to seek Wisconsin Housing and Economic Development Authority financing.
Body
Whereas, The City of Milwaukee (“City”) acquired 2971-75 North Dr. Martin Luther King Jr., Drive in 1997 and 2977-79 North Dr. Martin Luther King Jr., Drive in 2015 (the “King Parcels”) through property-tax foreclosure; and

Whereas, The Martin Luther King Milwaukee Public Library (“King Library”) currently occupies the City-owned property at 310 West Locust Street (the “Locust Parcel”); and

Whereas, In 2016, the Milwaukee Public Library (“MPL”) issued a Request For Proposal (“RFP”) for the Locust Parcel to redevelop the King Library; and

Whereas, MPL selected a developer who partnered with General Capital Group, LLC (“General Capital”) to construct a mixed-use building having a new library and residential units at the Locust Parcel; and

Whereas, After the original team of developers were unable to obtain financing for their proposed project, General Capital partnered with EMEM Group, LLC, collectively with General Capital, (the “Developer”) to continue working on the King Library redevelopment with MPL’s approval; and

Whereas, The Developer desires to expand the overall development by increasing the number of residential units and adding an additional residential building located on the King Parcels; and

Whereas, The Developer has submitted an unsolicited offer to purchase the King Parcels; and

Whereas, Section 304-49-8 of the Milwaukee Code of Ordinances allows the City t...