Number
170547
Version
ORIGINAL
Reference
Sponsor
ALD. BAUMAN
Title
Resolution approving an Agreement and Partial Release of Deed Restrictions between the City of Milwaukee and the Milwaukee Art Museum to release deed restrictions on the O’Donnell Park property and establish new restrictions to maintain the property as a park open to the public.
Analysis
This resolution approves an Agreement and Partial Release of Deed Restrictions between the City of Milwaukee and Museum Center Parking, Inc. (“MAM”), a subsidiary of Milwaukee Art Museum Inc., to release deed restrictions on the O’Donnell Park property and establish new restrictions to maintain the property as a park open to the public.
Body
Whereas, in 1939 and 1991 the City conveyed certain real property, located north of the southern boundary of East Wisconsin Avenue extended and south of East Mason Street at 929 East Wisconsin Avenue and a portion of 910 East Michigan Street, consisting of the former Juneau Park (the “Property”) to the County of Milwaukee, subject to various deed restrictions requiring that land be solely and exclusively used for public park, amusement and recreational grounds or parkway and that the County could not convey the Property to a private entity (the “Deed Restrictions”); and
Whereas, the Property comprises a portion of the land and improvements owned by Milwaukee County known as O'Donnell Park; and
Whereas, MAM and Milwaukee County have entered into an agreement pursuant to which MAM has been granted the right to purchase all of the improvements located on the Property, including the park parking structure (the "Improvements") but not the land, which will be retained by Milwaukee County; and
Whereas, in conjunction with the purchase of the Improvements from Milwaukee County, MAM has requested that the City execute and deliver a partial release of the Deed Restrictions in order to allow the purchase and private ownership by MAM of the portion of the Improvements lo...
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