Number
050404
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. MCGEE
Title
Substitute resolution approving the Land Disposition Report for the properties at 1940-48 North Dr. Martin Luther King Jr. Drive and 227R West Brown Street for a mixed-use development, in the 6th Aldermanic District. (Redevelopment Authority)
Analysis
This substitute resolution will permit the Redevelopment Authority to convey said land according to the conditions in the Land Disposition Report.
Body
Whereas, The Redevelopment Authority of the City of Milwaukee (“Authority”) advertised a Request for Proposals for the purchase and development of property in the 1900 Block of King Drive in the North Dr. Martin Luther King Jr. Drive and West Reservoir Avenue Redevelopment Project Area; and
Whereas, The Authority recommended acceptance of the proposal from The Readers Group on a primary basis and the proposal from Cross Development Group, Inc., on a secondary basis as summarized in a Land Disposition Report; and
Whereas, On July 12, 2005, the 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 July 12, 2005, with respect to the proposed sale of the following properties is approved.
REDEVELOPMENT PROJECT AREA
North Dr. Martin Luther King Jr. Drive - West Reservoir Avenue
PARCEL ADDRESSES
1940 North Dr. Martin Luther King Jr. Drive
1944 North Dr. Martin Luther King Jr. Drive
1948 North Dr. Martin Luther King Jr. Drive
227R West Brown Street
REDEVELOPER
The Readers Group - Primary Offer
Cross Development Group, Inc. - Secondary Offer
Drafter
DCD/Redevelopment Authority
DKE:kdu
08/04/05