Number
201146
Version
ORIGINAL
Reference
Sponsor
ALD. RAINEY
Title
Resolution relating to the sale of the surplus Milwaukee Public Schools property at 3409 North 37th Street, in the 7th Aldermanic District.
Analysis
This resolution approves the sale and surplus designation of the former Frederick Douglass School at 3409 North 37th Street, to Pilgrim Rest Missionary Baptist Church, Inc.
Body
Whereas, Frederick Douglass School at 3409 North 37th Street (“Property”), was declared surplus by the Milwaukee Board of School Directors in 2015; and
Whereas, In accordance with the requirements imposed by Wisconsin Statutes Section 119.61, the Property was listed for sale to education operators only on January 27, 2016 for a two-year period; 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 on February 20, 2018; and
Whereas, The Department of City Development (“DCD”) received only one proposal for the purchase and renovation of the Property from Pilgrim Rest Missionary Baptist Church, Inc. (“Buyer”); and
Whereas, The Buyer proposes to invest an estimated $635,000 to purchase and renovate the Property as a school and other related community educational services; 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; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report (“LDR”) for the Property, a copy of which is attached to this Common Council File, is approved, and that DCD is authorized to enter into a Purchase and Sale Agreement (“PASA”) with the Buyer, or its affiliated entity, materially consistent with the LDR, and then convey the Property to the Buyer, or assignee, in accordance therewith; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign the PASA, 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 LDR and this resolution, including any needed easements and/or releases of deed restrictions; and, be it
Further Resolved, That the sale proceeds, less sale and closing expenses, shall be deposited in the Milwaukee Public Schools Operations Fund, in accordance with Wisconsin Statutes Sections 110.46 and 119.61(5).
Drafter
DCD:Rhonda.Szallai:rs
12/15/20/A