Number
041098
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. MCGEE
Title
Substitute resolution approving the Land Disposition Report for the property at 540 West North Avenue for sale to CanCleve Group for a commercial development in the 6th Aldermanic District. (Redevelopment Authority)
Analysis
This resolution will permit the Redevelopment Authority to convey said land according to the conditions in the Land Disposition Report.
Body
Whereas, On November 18, 2004, the Redevelopment Authority of the City of Milwaukee ("Authority") 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, the Authority submits herewith a Land Disposition Report 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 November 18, 2004, with respect to the proposed sale of the following property is approved.
REDEVELOPMENT PROJECT AREA
Blight Elimination/Future Bronzeville Cultural and Entertainment District
PARCEL ADDRESS
540 West North Avenue and portions of the adjoining lots
REDEVELOPER
Urbanworks, LLC
; and, be it
Further Resolved, That in the event that CanCleve Group fails to close the transaction, the Authority is authorized to accept a secondary offer from the Urbanworks, LLC and close the sale as also outlined in the Land Disposition Report.
Drafter
DCD/Redevelopment Authority
DKE:dke
1/25/05