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File #: 150519    Version:
Type: Resolution Status: Passed
File created: 9/1/2015 In control: COMMON COUNCIL
On agenda: Final action: 9/22/2015
Effective date:    
Title: Substitute resolution declaring the City-owned property at 371 East Ward Street surplus to municipal needs and authorizing the sale to Dermond Property Investments LLC for mixed-use commercial and residential development, in the 14th Aldermanic District.
Sponsors: ALD. ZIELINSKI
Indexes: PROPERTY SALES
Attachments: 1. Fiscal Impact Statement, 2. Land Disposition Report and Due Diligence Checklist, 3. City Plan Commission Letter, 4. Hearing Notice List
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
9/29/20151 MAYOR SIGNED   Action details Meeting details Not available
9/22/20151 COMMON COUNCIL ADOPTEDPass15:0 Action details Meeting details Not available
9/15/20151 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Individuals appearing: Vanessa Koster, Department of City Development Nora Pecor, Dermond Property Investments LLC Michael Erkamaa, KK Music LLC Joel Agacki, Striegel Agacki Studio Yves LaPierre, Department of City Development Individual appearing in support: Kerry Yandell, Studio Lounge, 2242-46 S. Kinnickinnic Ave., Milwaukee, WI
Pass4:0 Action details Meeting details Video Video
9/10/20151 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
9/10/20151 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/9/20150 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/2/20150 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE REFERRED TO

Minutes note: To Whom It May Concern: The attached file is being referred to you for: Report and reply, preparation of ordinance and fiscal note Further information relating to this file may be found via the Legistar system at http://milwaukee.legistar.com/Legislation.aspx. If you have any questions please feel free to contact Molly Kuether at 286-2775 MollyKuether@milwaukee.gov
   Action details Meeting details Not available
9/1/20150 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
8/17/20150 CITY PLAN COMMISSION RECOMMENDED FOR ADOPTION AND ASSIGNEDPass6:0 Action details Meeting details Not available

Number

150519

Version

SUBSTITUTE 1

Reference

 

Sponsor

ALD. ZIELINSKI

Title

Substitute resolution declaring the City-owned property at 371 East Ward Street surplus to municipal needs and authorizing the sale to Dermond Property Investments LLC for mixed-use commercial and residential development, in the 14th Aldermanic District.

Analysis

This substitute resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Sections 304-49-5 and 304-49-8, Milwaukee Code of Ordinances.

Body

Whereas, Dermond Property Investments LLC (“DPI”) desires to develop a mixed-use commercial and residential building and has submitted an unsolicited offer to purchase the City-owned parking lot at 371 East Ward Street, as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and

 

Whereas, Sale of this property will allow DPI to combine the City-owned parking lot with the adjacent property at 2202 South Kinnickinnic Avenue to create a development site; and

 

Whereas, The Department of City Development (“DCD”) and the Department of Public Works (“DPW”) have reviewed the offer and the development proposal and have determined that the proposed price and redevelopment represents fair compensation to the City of Milwaukee (“City”) considering the investment in the neighborhood, contribution to the tax base and replacement of parking facilities; and

 

Whereas, DPI has agreed to construct a replacement parking lot on adjacent vacated street and right-of-way on East Ward Street; and

 

Whereas, DCD recommends sale of this property, with closing contingent on DCD approval of final site and building plans and evidence of firm financing; and

 

Whereas, The City Plan Commission (“CPC”) has determined that the parking lot is surplus to municipal needs; now, therefore, be it

 

Resolved, By the Common Council of the City of Milwaukee, that the property at 371 East Ward Street is surplus to municipal needs and that the offer to purchase submitted by DPI is accepted; and, be it

 

Further Resolved, That the Commissioner of DCD, or designee, is authorized to execute the offer, option to purchase, development agreement, deed, release any deed restrictions that inhibit development and execute other legal documents, on behalf of the City, and to close the transaction according to the terms of the Land Disposition Report; and, be it

 

Further Resolved, That the City closing is contingent on DPI completing the replacement parking lot according to DPW specifications; and, be it

 

Further Resolved, That the sale proceeds, less sale expenses and a 30 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee, shall be credited to the Department of Public Works Parking Fund.

Drafter

DCD:Yves.LaPierre:ysl

09/09/15