Number
100270
Version
ORIGINAL
Reference
040407
Sponsor
ALD. HINES and MURPHY
Title
Resolution accepting a proposal submitted by Wisconsin Lutheran College, Inc. for the purchase of the former Finney Library at 4243 West North Avenue for development of a youth education and parent resource center, in the 15th Aldermanic District.
Analysis
Adoption of this resolution by at least a two-thirds vote of the Common Council authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report, pursuant to Section 304-49-7, Milwaukee Code of Ordinances, allows the City to convey the property without a deed restriction prohibiting tax-exempt status, pursuant to Section 304-50-12, Milwaukee Code of Ordinances, and authorizes execution of a Payment in Lieu of Taxes Agreement.
Body
Whereas, By adoption of File No. 040407, on July 27, 2004, the Common Council of the City of Milwaukee authorized the surplus declaration and marketing of the former Finney Library at 4243 West North Avenue; and
Whereas, The Department of City Development (“DCD”) advertised a Request for Proposal specifying Redevelopment Criteria; and
Whereas, Three proposals were received prior to the established deadline and were reviewed by DCD staff according to established criteria; and
Whereas, DCD recommends that the development proposal submitted by Wisconsin Lutheran College, Inc. to purchase the property for use as its youth education and parent resource center as summarized in a Land Disposition Report, a copy of which is attached to the Common Council File; and
Whereas, Wisconsin Lutheran College, Inc. has offered to enter into a Payment in Lieu of Taxes Agreement (“PILOT”) with the City of Milwaukee (“City”) rather than acquiring the property with a deed restriction prohibiting tax-exempt status as required by the Milwaukee Code of Ordinances, Section 304-50-12; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, tha...
Click here for full text