City of Milwaukee - File #: 090879

• File #: 090879
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 11/3/2009
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 3/2/2010
• Title: Substitute resolution approving a Second Restated Agreement for Purchase and Sale of the surplus City-owned property at 4701-5001 South Pennsylvania Avenue in the City of Cudahy between the City of Milwaukee and Cobalt Partners, LLC.
• Sponsors: ALD. WITKOWSKI
• Indexes: AGREEMENTS, CITY PROPERTY, PROPERTY ACQUISITION, PROPERTY SALES, SURPLUS PROPERTY

Date	Ver.	Action By	Action	Result	Tally
3/9/2010	1	MAYOR	SIGNED
3/2/2010	1	COMMON COUNCIL	ADOPTED	Pass	14:0
2/23/2010	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Dan Casanova, Department of City Development Greg Hagopian, City Attorney's Office Scott Yauck, Cobalt Partners, LLC	Pass	4:0
2/18/2010	1	CITY CLERK	DRAFT SUBMITTED
2/17/2010	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
2/17/2010	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
2/17/2010	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/3/2009	0	COMMON COUNCIL	ASSIGNED TO

Number
090879
Version
SUBSTITUTE 1
Reference
040353, 051347
Sponsor
ALD. WITKOWSKI
Title
Substitute resolution approving a Second Restated Agreement for Purchase and Sale of the surplus City-owned property at 4701-5001 South Pennsylvania Avenue in the City of Cudahy between the City of Milwaukee and Cobalt Partners, LLC.
Analysis
This substitute resolution authorizes entry into a Second Amended and Restated Agreement for Purchase and Sale whereby the City will convey a former landfill at 4701-5001 South Pennsylvania Avenue in the City of Cudahy pursuant to Section 304-49-7, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee (“City”) owns property at 4701-5001 South Pennsylvania Avenue in the City of Cudahy (the “Property”) that was acquired in 1954 through consolidation of the Town of Lake and that was operated as a licensed solid waste landfill by the City's Department of Public Works (“DPW”); and

Whereas, DPW no longer uses the Property for those purposes and the City obtained conditional closure of the landfill from the Wisconsin Department of Natural Resources; and

Whereas, By adoption of File No. 040353 on July 27, 2004, the Common Council declared the Property surplus to municipal needs and approved its sale to Kendall Bruenig; and

Whereas, Mr. Bruenig's offer expired without closing and the City’s Department of City Development (“DCD”) issued a Request for Proposals for sale of the Property on an “as is” basis with no warranties; and

Whereas, Three proposals were received prior to the established deadline and by adoption of File No. 051347 on February 28, 2006, the Common Council approved sale of the Property to Cobalt Partners, LLC (“Cobalt”) for $1,800,000; and

Whereas, Per Common Council File No. 051347, the City and Cobalt entered into an “Agreement for Purchase and Sale” (the “PASA”), effective March 15, 2006, allowing Cobalt a 150-day-buyer-contingency period and calling for a closing within 160 days from March 15, 2006...