Number
100359
Version
ORIGINAL
Reference
Sponsor
ALD. HINES
Title
Resolution authorizing the sale of the City-owned parking lot at 1805 North 34th Street and the City-owned vacant lot at 3417 West Vine Street to Community Advocates, Inc. for the development of a supportive housing facility, 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, and 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.
Body
Whereas, Community Advocates, Inc. wishes to provide critically needed housing and mental health services in the Walnut Hill neighborhood; and
Whereas, Community Advocates has submitted an unsolicited offer to purchase the City-owned parking lot at 1805 North 34th Street and the City-owned vacant lot at 3417 West Vine Street for assemblage with its property as summarized in a Land Disposition Report and a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-7 of the Milwaukee Code of Ordinances allows the City of Milwaukee ("City") to accept unsolicited offers to purchase property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The Department of City Development ("DCD") has reviewed the offer and the development proposal and has determined that the proposed price and redevelopment represents fair compensation to the City considering the investment in the neighborhood and the provision of mental health and housing services to the community; and
Whereas, DCD recommends sale of these properties with closing contingent on DCD approval of final site and building plans and evidence of firm financing; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Commissioner of DCD, or designee, is authorized to accept the unsolicited offer to purchase submitted by Community Advocates, Inc. for the City-owned parking lot at 1805 North 34th Street and the City-owned vacant lot at 3417 West Vine Street as outlined in the Land Disposition Report; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to release any deed restrictions that inhibit development and execute other legal documents on behalf of the City and to close the transaction according to the terms of the Land Disposition Report; and, be it
Further Resolved, That the proper City officials are authorized to execute and/or accept easements for the City street lighting electrical service and other utilities on the City-owned properties; and, be it
Further Resolved, That the proper City officials are authorized to execute an Emerging Business Enterprise Agreement with Community Advocates; and, be it
Further Resolved, That the proper City officials are authorized to execute a Payment In Lieu of Taxes Agreement with Community Advocates in lieu of a deed restriction prohibiting application for tax-exempt status pursuant to Section 304-50-12, Milwaukee Code of Ordinances; and, be it
Further Resolved, That the sale proceeds shall be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD/Real Estate
YSL:ysl
07/07/10/A