Number
180570
Version
SUBSTITUTE 1
Reference
990815, 090700
Sponsor
ALD. BAUMAN
Title
Substitute resolution approving a Land Disposition Report for a portion of the property at 1027 North Edison Street, in the 4th Aldermanic District.
Analysis
This substitute resolution will permit the Redevelopment Authority of the City of Milwaukee to convey a small portion of land to River Houses Condominium Association, Ltd. according to the conditions in a Land Disposition Report.
Body
Whereas, The Common Council of the City of Milwaukee adopted File No. 990815 on September 28, 1999 that approved a Limited Access Agreement for Fence Maintenance (“Agreement”) between the City of Milwaukee (“City”) and the River Houses Condominium Association, Ltd.(“Association”) on a portion of the property located at 1027 North Edison Street (“Property”), whereby the City granted the Association access over the north eight, and narrowing to six, feet of the Property extending from the west right-of-way line of North Edison Street to the dockwall of the Milwaukee River (“Access Strip”); and
Whereas, The Agreement had an initial term of five years and was set to expire on July 8, 2003, but the Agreement allowed for three, five-year extensions, which were agreed upon by the parties in 2003, 2008 and 2013 and the Agreement and its extensions expired on July 8, 2018; and
Whereas, The ownership of the Property was transferred to the Redevelopment Authority of the City of Milwaukee (“Authority”) in 2009, which was approved by adoption of Common Council File No. 090700 and by Authority Resolution No. 10127; and
Whereas, The Association has been in compliance with the Agreement and the Association now wishes to purchase the Access Strip or a specified strip of the Property to be determined by an official survey that will be paid for by the Association; and
Whereas, The Authority approved the Land Disposition Report at its meeting on July 19, 2018; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report is approved for the sale of a portion of the Property located at 1027 North Edison Street; and, be it
Further Resolved, That the Authority’s Executive Director, or designee, is authorized to enter into an Offer to Purchase, 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 shall be credited to the appropriate Authority account.
Drafter
DCD:Rhonda.Szallai:rs
07/18/18