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File #: 171380    Version:
Type: Resolution Status: Passed
File created: 12/19/2017 In control: COMMON COUNCIL
On agenda: Final action: 1/17/2018
Effective date:    
Title: Substitute resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed vacant lot at 3326 West Capitol Drive, in the 1st Aldermanic District.
Sponsors: ALD. HAMILTON
Indexes: CITY PROPERTY, LAND DISPOSITION REPORTS
Attachments: 1. Fiscal Impact Statement, 2. Land Disposition Report, 3. Due Diligence Checklist, 4. Hearing Notice List
Number
171380
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. HAMILTON
Title
Substitute resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed vacant lot at 3326 West Capitol Drive, in the 1st 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, The City of Milwaukee (“City”) acquired 3326 West Capitol Drive (“Property”) on July 14, 2004 through property tax foreclosure; and

Whereas, Development For Community Empowerment, LLC, a Limited Liability Company wholly-owned by Valerie Daniels-Carter, (“Buyer”) has submitted an unsolicited Offer to Purchase the City-owned vacant lot at 3326 West Capitol Drive for construction of a full-service restaurant and parking lot 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 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 unsolicited Offer to Purchase submitted by the Buyer for the Property is accepted; and, be it

Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign the 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...

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