Number
221809
Version
ORIGINAL
Reference
Sponsor
ALD. STAMPER
Title
Resolution authorizing the Department of City Development to issue an Exclusive Right to Negotiate to Neu-Life Community Development, Inc. for the City of Milwaukee-owned property located at 1515 North 12th Street, in the 15th Aldermanic District.
Analysis
This resolution authorizes the Department of City Development to issue an Exclusive Right to Negotiate to Neu-Life Community Development, Inc. allowing it a period of time to fundraise and secure financing according to the conditions in a Site Control Report.
Body
Whereas, Neu-Life Community Development, Inc. is the owner of all the adjacent property on the block of 1515 North 12th Street and wishes to assemble all the property into a building site for a mixed-use development; and
Whereas, The Common Council of the City of Milwaukee’s (“Common Council”) approval of an Exclusive Right to Negotiate to Neu-Life Community Development, Inc. will allow it time to fundraise, secure financing and finalize building plans; and
Whereas, At the end of the Exclusive Right to Negotiate, Neu-Life Community Development, Inc. will submit final plans and a budget for review and approval by the Department of City Development (“DCD”) which will be submitted for approval to the Common Council; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that a Site Control Report, a copy of which is attached to this Common Council File, is approved and DCD is authorized to issue to Neu-Life Community Development, Inc., an Exclusive Right to Negotiate in substantial accordance with said Site Control Report.
PARCEL ADDRESS
1515 North 12th Street
REDEVELOPER
Neu-Life Community Development, Inc.
Drafter
DCD:Yves.LaPierre:ysl
03/21/23/B