City of Milwaukee - File #: 191277

• File #: 191277
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 11/26/2019
• In control: COMMON COUNCIL
• Final action: 12/17/2019
• Title: Substitute resolution authorizing an Exclusive Right to Negotiate for the City-owned properties at 310 West Locust Street, 2971-75 and 2977-79 North Dr. Martin Luther King Jr., Drive, in the 6th Aldermanic District.
• Sponsors: ALD. COGGS
• Indexes: CITY PROPERTY, DEPARTMENT OF CITY DEVELOPMENT, MILWAUKEE PUBLIC LIBRARY

Date	Ver.	Action By	Action	Result	Tally
1/2/2020	1	MAYOR	SIGNED
12/17/2019	1	COMMON COUNCIL	ADOPTED	Pass	15:0
12/10/2019	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Matt Haessly, Dept. of City Development Paula Kiely, Milwaukee Public Library Lavelle Young, Young Development Group LLC Sam McGovern-Rowen, Milwaukee Public Library Sig Strautmanis, General Capital Development LLC	Pass	5:0
12/4/2019	1	CITY CLERK	DRAFT SUBMITTED
12/4/2019	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
12/4/2019	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/26/2019	0	COMMON COUNCIL	ASSIGNED TO

Number
191277
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. COGGS
Title
Substitute resolution authorizing an Exclusive Right to Negotiate for the City-owned properties at 310 West Locust Street, 2971-75 and 2977-79 North Dr. Martin Luther King Jr., Drive, in the 6th Aldermanic District.
Analysis
This substitute resolution authorizes the Department of City Development to issue an Exclusive Right to Negotiate to Young Development Group, LLC and General Capital Development, LLC or assignee allowing it a period of time to seek Wisconsin Housing and Economic Development Authority financing.
Body
Whereas, The City of Milwaukee (“City”) acquired 2971-75 North Dr. Martin Luther King Jr., Drive in 1997 and 2977-79 North Dr. Martin Luther King Jr., Drive in 2015 (the “King Parcels”) through property-tax foreclosure; and

Whereas, The Martin Luther King Milwaukee Public Library (“King Library Branch”) currently occupies the City-owned property at 310 West Locust Street (the “Locust Parcel”); and

Whereas, In 2016, the Milwaukee Public Library (“MPL”) issued a Request For Proposal for the Locust Parcel to redevelop the King Library Branch; and

Whereas, MPL received four submittals and selected Young Development Group, LLC (“Young”) as its developer to construct a mixed-use building having a new library and residential units at the Locust Parcel; and

Whereas, Young has since partnered with General Capital Development, LLC (“General Capital,” and collectively with Young, the “Developer”) with MPL’s approval; and

Whereas, The Developer desires to expand the overall development by increasing the number of residential units and adding an additional residential building located on the King Parcels; and

Whereas, The Developer has submitted an unsolicited offer to purchase the King Parcels; and

Whereas, On November 26, 2019, the MPL Board voted to approve and grant the Developer an Exclusive Right to Negotiate for the Locust Parcel; and

Whereas, Developer wishes to a...