Number
070935
Version
ORIGINAL
Reference
Sponsor
ALD. DONOVAN
Title
Resolution approving the Land Disposition Report for part of a Redevelopment Authority property in the Menomonee Valley Industrial Center for sale to HSI Development Partners, LLC, for development of a corporate office and manufacturing facility for Derse, Inc., in the 8th Aldermanic District.
Analysis
This resolution will permit the Redevelopment Authority to convey said land according to the conditions in the Land Disposition Report.
Body
Whereas, HSI Development Partners, LLC, has offered to purchase an approximately 8-acre site at the northeast corner of North Selig Drive and West Canal Street in the Menomonee Valley Industrial Center for development of a corporate office and manufacturing facility for Derse, Inc.; and
Whereas, On October 18, 2007, the Redevelopment Authority of the City of Milwaukee (“Redevelopment Authority”) held a Public Hearing on the proposed land sale as required by Wisconsin Statutes; and
Whereas, Pursuant to Wisconsin Statues and as a condition precedent to the sale, lease or transfer of land, the Redevelopment 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 October 18, 2007, with respect to the proposed sale of the following property, is approved.
REDEVELOPMENT PROJECT AREA
Milwaukee Road Shops
PARCEL ADDRESS
Part of 3601 West Canal Street
REDEVELOPER
HSI Development Partners, LLC
; and, be it
Further Resolved, That the proper City officials are authorized to execute an Emerging Business Enterprises Agreement with the Redeveloper and the Redevelopment Authority and any other City of Milwaukee easements or documents necessary to close the transaction.
Drafter
DCD/Redevelopment Authority
DM:dac
10/23/07/A