City of Milwaukee - File #: 200599

• File #: 200599
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 9/1/2020
• In control: COMMON COUNCIL
• Final action: 10/13/2020
• Title: Resolution relating to the sale of the surplus Milwaukee Public Schools property at 5372 North 37th Street, in the 1st Aldermanic District.
• Sponsors: ALD. HAMILTON
• Indexes: MILWAUKEE PUBLIC SCHOOLS, SCHOOL BUILDINGS

Date	Ver.	Action By	Action	Result	Tally
10/22/2020	0	MAYOR	SIGNED
10/13/2020	0	COMMON COUNCIL	ADOPTED	Pass	15:0
10/6/2020	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Rhonda Szallai, Dept. of City Development Ted Matkom, Gorman & Company	Pass	5:0
8/26/2020	0	COMMON COUNCIL	REFERRED TO

Number
200599
Version
ORIGINAL
Reference

Sponsor
ALD. HAMILTON
Title
Resolution relating to the sale of the surplus Milwaukee Public Schools property at 5372 North 37th Street, in the 1st Aldermanic District.
Analysis
This resolution approves the sale and surplus designation of the former Edison Middle School at 5372 North 37th Street, to Gorman & Company, LLC for redevelopment as multi-family housing.
Body
Whereas, Edison Middle School at 5372 North 37th Street (the “Property”), was declared surplus by the Milwaukee Board of School Directors in 2017; and

Whereas, In accordance with the requirements imposed by Wisconsin Statutes Section 119.61, the Property was listed for sale to education operators only for a two-year period that ended in July 2019; and

Whereas, No education operator purchased the Property during that two-year period; and

Whereas, In accordance with Wisconsin Statutes Section 119.61, the Property was listed for sale for adaptive re-use in October 2019; and

Whereas, The Department of City Development (“DCD”) received only one proposal for the purchase and redevelopment of the Property from Gorman & Company, LLC (“Buyer”); and

Whereas, The Buyer proposes to invest an estimated $20 million to purchase and renovate the Property as 64 units in the existing school building and construct 11 new townhomes on the site; and

Whereas, A Zoning application has been submitted to change the zoning to RM4 to permit the proposed development; and

Whereas, DCD has reviewed the offer and development proposal from the Buyer and determined that the offer and proposal represent fair compensation; and

Whereas, DCD has reviewed financial information submitted by the Buyer and determined that the Buyer has the financial capacity to purchase and renovate the Property, contingent on the Buyer’s receipt of Low Income Housing Tax Credits and Federal and State Historic Tax Credits; now, therefore, be it

Resolved, By the Common Council of the City of Milwa...