Number
211868
Version
SUBSTITUTE 1
Reference
191155
Sponsor
ALD. LEWIS
Title
Substitute resolution relating to the sale of the surplus Milwaukee Public Schools property at 9500 West Allyn Street and 9102 North 96th Street, in the 9th Aldermanic District.
Analysis
This substitute resolution approves the sale of the former Fletcher Elementary School, 9500 West Allyn Street and 9102 North 96th Street, to Synergy Development Group, LLC for redevelopment as a school.
Body
Whereas, Fletcher Elementary School, 9500 West Allyn Street and 9102 North 96th Street (the “Properties”), were determined underutilized by the requirements imposed by Wisconsin Statutes Section 119.61 in 2015 and Milwaukee Public Schools (“MPS”) listed the Properties as Surplus on their Inventory of School Buildings list in 2017; and
Whereas, The City of Milwaukee declares the Properties surplus to its needs; and
Whereas, In accordance with the requirements imposed by Wisconsin Statutes Section 119.61, the Properties were listed for sale to education operators only for a two-year period that ended in January 2018; and
Whereas, No education operator purchased the Properties during that two-year period; and
Whereas, In accordance with Wisconsin Statutes Section 119.61, the Properties were then offered for sale for adaptive re-use in July 2018; and
Whereas, The Department of City Development (“DCD”) received one proposal from Fletcher Affordable Limited Partnership for the purchase and redevelopment of the Properties for multi-family housing; and
Whereas, The Common Council of the City of Milwaukee (“Common Council”) passed Common Council File No. 191155 approving the sale on November 26, 2019; and
Whereas, The sale failed to materialize and the Properties were relisted on January 25, 2021; and
Whereas, Synergy Development Group, LLC (the “Buyer”) proposes to invest an estimated $5.3 million to purchase and renovate the Properties for school use; and
Whereas, The Buyer will lease the school to Greater Holy Temple Christian Academy as the sole tenant occupying the existing school building for school use; 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 Properties, contingent on approval of the Buyer’s DPD for the Properties; and
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report (“LDR”) for the Properties, 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 assignee, materially consistent with the LDR, and then convey the Properties 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 substitute resolution, including any needed easements and/or releases of deed restrictions; and, be it
Further Resolved, That the sale proceeds, less sale expenses, shall be deposited in the MPS Operations Fund, in accordance with Wisconsin Statutes Sections 119.46 and 119.61(5).
Drafter
DCD:Rhonda.Szallai:rs
03/24/22
Technical Corrections
Chris Lee
04/05/22
Terri Grote
04/11/22