City of Milwaukee - File #: 161596

• File #: 161596
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 3/1/2017
• In control: COMMON COUNCIL
• Final action: 3/28/2017
• 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

Date	Ver.	Action By	Action	Result	Tally
4/6/2017	1	MAYOR	SIGNED
3/28/2017	1	COMMON COUNCIL	ADOPTED	Pass	15:0
3/21/2017	1	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	Pass	5:0
3/15/2017	1	CITY CLERK	DRAFT SUBMITTED
3/15/2017	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
3/15/2017	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
3/1/2017	0	COMMON COUNCIL	ASSIGNED TO

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 Authority of the City of Milwaukee, shall be credited to the Delinquent Tax Fund.

Drafter

DCD:Matt.Haessly:mfh

03/14/17