City of Milwaukee - File #: 031163

• File #: 031163
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 11/25/2003
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 6/15/2004
• Title: Substitute resolution declaring a City-owned parcel of land located at 1136 East North Avenue surplus and authorizing acceptance of an Option to Purchase from Readco, LLC and/or assigns for development, in the 3rd Aldermanic District.
• Sponsors: ALD. D'AMATO
• Indexes: PROPERTY SALES, SURPLUS PROPERTY

Date	Ver.	Action By	Action	Result	Tally
4/22/2014	1	COMMON COUNCIL	HEARING NOTICES SENT
4/22/2014	1	COMMON COUNCIL	HEARING NOTICES SENT
4/22/2014	1	COMMON COUNCIL	HEARING NOTICES SENT
4/2/2014	1	COMMON COUNCIL	HEARING NOTICES SENT
4/2/2014	1	COMMON COUNCIL	HEARING NOTICES SENT
6/24/2004	1	MAYOR	SIGNED
6/15/2004	1	COMMON COUNCIL	ADOPTED	Pass	15:0
6/8/2004	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: (Ald. D'Amato requested that the owner return to appear before the Committee prior to the final sale).	Pass	5:0
6/2/2004	1	PUBLIC WORKS COMMITTEE	RECOMMENDED FOR ADOPTION AND ASSIGNED	Pass	4:0
5/28/2004	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
5/28/2004	1	PUBLIC WORKS COMMITTEE	HEARING NOTICES SENT
5/27/2004	1	PUBLIC WORKS COMMITTEE	HEARING NOTICES SENT
12/3/2003	1	CITY CLERK	DRAFT SUBMITTED
12/1/2003		PUBLIC WORKS COMMITTEE	REFERRED TO
11/25/2003	0	COMMON COUNCIL	ASSIGNED TO

Number
031163
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. D'AMATO
Title
Substitute resolution declaring a City-owned parcel of land located at 1136 East North Avenue surplus and authorizing acceptance of an Option to Purchase from Readco, LLC and/or assigns for development, in the 3rd Aldermanic District.
Analysis
This substitute resolution will result in the sale of a vacant City-owned parcel of land for redevelopment purposes.
Body
Whereas, The parcel of land located at 1136 East North Avenue is a former City Ward Yard surplus to the Department of Public Works' needs; and

Whereas, The adjoining property owner, Readco, LLC, proposes to option this vacant City-owned land, combine it with its adjoining real estate holdings and redevelop the assembled real estate in accordance with plans to be submitted to and approved by the Department of City Development; and

Whereas, The Department of City Development recommends acceptance of Readco, LLC's Option subject to receipt of a non-refundable $5,000 earnest deposit due immediately upon Common Council approval, said Option having an initial term of six months and providing for two three-month extensions if reasonable progress in design development and financial packaging is being made to the satisfaction of the Commissioner of the Department of City Development; and

Whereas, The Department of City Development recommends that the real estate closing be contingent upon satisfactory urban design review by its Department and upon Readco, LLC's submission of firm financing commitments, with earnest money credited toward the purchase price; and

Whereas, The City Plan Commission has determined there is no municipal need for this parcel; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the City-owned parcel of land located at 1136 East North Avenue is declared surplus, that the Option to Purchase from Readco, LLC and/or assigns is accepted and that the p...