Number
140727
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. BAUMAN
Title
Substitute resolution approving the Redevelopment Authority acquisition of the Youvraj Group, LLC property at 2630 West Wisconsin Avenue a/k/a 714 North 27th Street, in the 4th Aldermanic District, and authorizing the City to enter into a three-party agreement with the Avenues West Business Improvement District and the Redevelopment Authority regarding same.
Analysis
Adoption of this substitute resolution by the Common Council will approve the acquisition of the Youvraj Group, LLC owned property by the Redevelopment Authority using the procedures set forth in Wisconsin Statutes, Section 66.1333, and City entry into an agreement with the Redevelopment Authority and the Avenues West Business Improvement District regarding the City's contribution toward the Redevelopment Authority's acquisition cost and the BID's contribution toward the demolition cost and preparing 2630 West Wisconsin Avenue (714 North 27th Street) for development.
Body
Whereas, The Redevelopment Authority of the City of Milwaukee ("RACM") and Youvraj Group, LLC ("Youvraj") entered into a Purchase and Sale Agreement dated July 31, 2014 (the "PASA"), a copy of which is attached to this Common Council File, and whereby, subject to RACM and City of Milwaukee ("City") Common Council approval, and ratification of DCD Commissioner/RACM Executive Director Marcoux's signature on behalf of RACM, RACM agreed to buy from Youvraj the property at 2630 West Wisconsin Avenue (a/k/a 714 North 27th Street), Milwaukee (the "Parcel") upon which there currently exists a Mobil gas station; and
Whereas, Under the PASA, closing is scheduled to take place on or before October 24, 2014; and
Whereas, The Parcel is within the designated boundaries of a proposed project area, the Avenues West Redevelopment Project Area (the "Project Area"), which boundaries and Project Area were approved by RACM via Resolution No. 9780 (adopted December 15, 2005) and by the City's Common Council File No. 051271 (adopted February 7, 2006) under Wisconsin Statutes, Section 66.1333(6)(b)1, but no Redevelopment Plan has been approved by RACM or the City's Common Council for the Project Area under Wisconsin Statutes, Section 66.1333(6)(b)2; and
Whereas, Under Wisconsin Statutes, Section 66.1333(5)(a)3, within the boundaries of the City, among other things, RACM may acquire by purchase, real property, necessary or incidental to a redevelopment or urban renewal project; under Wisconsin Statutes, Section 66.1333(5)(b)4, RACM may acquire by purchase, real property within a Project Area before the approval of a Redevelopment Plan if the Common Council approves the acquisition; and Wisconsin Statutes, Section 66.1333(5)(b)4, further provides that if RACM so acquires such real property within a Project Area, but not yet in a Redevelopment Plan, RACM may demolish or remove structures with the approval of the Common Council (see, also, Wisconsin Statutes, Section 66.1333(17), which provides that Section 66.1333 shall be liberally construed); and
Whereas, Wisconsin Statutes, Section 66.1333(13), allows City-RACM Cooperation Agreements to assist redevelopment and urban renewal; and
Whereas, RACM staff negotiated with Avenues West Business Improvement District No. 10 ("BID No. 10"), a $100,000 contribution toward demolition, including tank removal, and for preparing the Parcel for redevelopment, if RACM acquires the Parcel, and also RACM staff negotiated the BID No. 10, City, RACM Agreement, a copy of which is attached to this Common Council File, concerning such BID No. 10 contribution and the City's contribution toward acquisition costs; and
Whereas, RACM, on September 18, 2014, took up a concurrent resolution regarding the subject matter hereof, a copy of which resolution is attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that subject to RACM approval of said concurrent RACM resolution, or one substantially and materially similar thereto, the Common Council approves the PASA, approves DCD Commissioner/RACM Executive Director Marcoux's signature of same, approves RACM acquisition of the Parcel, per the PASA, and approves post-acquisition demolition; and, be it
Further Resolved, That subject to RACM approval of the concurrent RACM resolution, or one substantially and materially similar thereto, the BID No. 10, City, RACM Agreement is hereby approved and the appropriate City officials are directed to sign same in the form submitted to this Common Council File, or in a form substantially and materially similar thereto; and, be it
Further Resolved, That the Common Council: (i) approves the City providing the resources for property acquisition, including a capital account fund transfer submitted to the Finance and Personnel Committee via the pertinent BMD-9 form(s), which form(s) transfer $224,000 from the 2011 Business Improvement District Fund (9990-0339-UR04111000A) to the 2011 Development Fund (9990-0339-UR03311000A); and (ii) directs the City Comptroller to transfer $86,000 from the Development Fund (1910-0339-UR03309000A), $70,000 from the Development Fund (9990-0339-UR0339000A), $238,730.16 from the Development Fund (1910-0339-UR03311000A) and $285,269.84 from the Development Fund (9990-0339-UR03311000A) to the Development Fund segment "2630 West Wisconsin Avenue" account (1910-0339-UR03399502) for the total of $680,000; and, be it
Further Resolved, That the City Comptroller, in conjunction with the Commissioner of DCD, is directed to establish any and all subaccounts in accordance with generally accepted accounting practices and City guidelines necessary to maintain the fiscal control to carry out the intent and purpose of this resolution; and, be it
Further Resolved, That subject to RACM approval of the concurrent RACM resolution, or one substantially and materially similar thereto, the appropriate City staff are directed to take such further actions, as may be required to effectuate the intent of this resolution, including but not limited to, actions required to assist with closing on the PASA and RACM's acquisition of the Parcel.
Drafter
DCD:Matt.Haessly:mfh
09/10/14