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File #: 161596    Version:
Type: Resolution Status: Passed
File created: 3/1/2017 In control: COMMON COUNCIL
On agenda: Final action: 3/28/2017
Effective date:    
Title: Substitute resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2311 West Capitol Drive, in the 6th Aldermanic District.
Sponsors: ALD. COGGS
Indexes: LAND DISPOSITION REPORTS
Attachments: 1. Fiscal Impact Statement, 2. Land Disposition Report, 3. Due Diligence Checklist, 4. Hearing Notice List
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
4/6/20171 MAYOR SIGNED   Action details Meeting details Not available
3/28/20171 COMMON COUNCIL ADOPTEDPass15:0 Action details Meeting details Not available
3/21/20171 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Individuals appearing: Matt Haessly, Department of City Development Glenda Hampton, Capitol Building LLC Ariam Kesete, Capitol Building LLC Mohammad Nazar, Four Treasures LLC
Pass5:0 Action details Meeting details Video Video
3/15/20171 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
3/15/20170 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/15/20170 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/1/20170 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
161596
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. COGGS
Title
Substitute resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2311 West Capitol Drive, in the 6th 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, Capitol Building, LLC (“CBLLC”) has submitted an unsolicited Offer to Purchase the City-owned property at 2311 West Capitol Drive (the “Property”); and

Whereas, CBLLC desires to maintain and renovate the property as an aftercare/transitional/independent housing facility as summarized in a Land Disposition Report and a Due Diligence Checklist, copies of which are attached to this Common Council File; and

Whereas, Section 304-49-8 of the Milwaukee Code of Ordinances allows the City of Milwaukee (“City”) to accept unsolicited Offers to Purchase property when the City receives fair compensation, whether monetary or non-monetary; and

Whereas, The Department of City Development (“DCD”) has reviewed the offer and the development proposal and has determined that the offer and proposal represent fair compensation to the City in terms of the purchase price and investment in the neighborhood; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the offer submitted by CBLLC for the Property is accepted; and, be it

Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign a Purchase and Sale Agreement, deed and requisite closing documents and to close the transaction and to take such actions, as may be needed, to effectuate the terms of the Land Disposition Report and this resolution; and, be it

Further Resolved, That the sale proceeds, less sale and marketing expenses and a 30 percent disposition fee to the Redevelopment Auth...

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