Number
160812
Version
ORIGINAL
Reference
Sponsor
ALD. BAUMAN
Title
Resolution authorizing the Redevelopment Authority of the City of Milwaukee to enter into a Purchase and Sale Agreement with SOHI Corner, Inc. for a portion of the parking lot at 748 North 27th Street, in the 4th Aldermanic District.
Analysis
This resolution will permit the Redevelopment Authority of the City of Milwaukee to convey a portion of said lot according to the conditions in a Land Disposition Report.
Body
Whereas, SOHI Corner, Inc. (“SOHI”) has offered to purchase a portion of the parking lot at 748 North 27th Street from the Redevelopment Authority of the City of Milwaukee (“RACM”) for expanded parking on its adjacent property at 760 North 27th Street; and
Whereas, On October 20, 2016, RACM held a Public Hearing on the proposed sale as required by Wisconsin Statutes; and
Whereas, Pursuant to Wisconsin Statutes and as a condition precedent to the sale, lease or transfer of land, RACM submits a Land Disposition Report, a copy of which is attached to this Common Council File, describing the terms and conditions of the proposed sale; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report dated October 20, 2016, with respect to the proposed sale of a portion of the following property, is approved.
REDEVELOPMENT PROJECT AREA
North 28th Street - West Wells Street
PARCEL ADDRESS
748 North 27th Street (part)
; and, be it
Further Resolved, That the net proceeds from the sale shall be returned to the RACM General Fund.
Drafter
DCD:Yves.LaPierre:ysl
10/11/16/A