Fiscal Note
There is no fiscal impact associated with the declaration of intent to sell the property. Terms of the sale will be presented in a separate resolution to the Council for its approval. The adopted 2006 Operating Budget anticipates $1.3 million in revenues from the proceeds of the sale of City lands; therefore, the proceeds of this sale will be deposited in the General Fund.
Title
Approving the intent of the Park Division to sell lands within Doncaster Park located at 4335 Doncaster Drive to Will Investments-Southside, LLC. 10th Ald. Dist.
Body
Preamble
The Park Division has declared a parcel of land within Doncaster Park ("Property") (as shown on attached map), located at 4335 Doncaster Drive, surplus to its needs with a recommendation that a portion or all of the proceeds of sale be used to fund park improvements within the remaining portion of Doncaster Park. City surplus property procedures provide that other City departments must be notified of the surplusing of the Property and provided an opportunity to express their interest in the Property. Other City departments have been notified that the Property has been surplused and no department expressed interest in the Property.
If no City department expresses interest in the Property the CEDU Director, with the assistance of the Planning Director and in consultation with the alderperson of the district in which the Property is located may determine that it is in the best interests of the City to sell the Property by direct sale to the abutting property owner. If these parties determine that it is in the best interests of the City to sell the Property to the abutting property owner the intent to sell the Property in this way is submitted to the Common Council for approval. If the Council approves the intent to sell the Property, the terms and conditions of the sale shall be arrived at by mutual agreement of the City and the abutting property owner and submitted to the Common Council for approval.
The Wisconsin Department of Transportation ("WISDOT") is acquiring several apartment buildings, a parking lot and driveway access to the Beltline/MIdvale Westbound off-ramp as part of its Verona Road Project from Will Investments-Southside LLC, owner of an apartment complex abutting the Property. WISDOT has requested that the Property be sold to the owner of the abutting apartment complex to provide a replacement parking lot for the tenants. A neighborhood meeting was held and the neighbors supported the proposed surplus and sale of the Property to the abutting property owner. It has been determined that selling the Property to Will Investments-Southside LLC to provide replacement parking for the tenants of the abutting apartment complex is in the best interests of the City.
NOW THEREFORE BE IT RESOLVED that the Common Council hereby approves the intent of the Park Division to sell a parcel of land within Doncaster Park (the "Property") (as shown on the attached map), located at 4335 Doncaster Drive, to Will Investments-Southside LLC to provide replacement parking for the abutting apartment complex.
BE IT FURTHER RESOLVED that the City Real Estate Section shall negotiate terms and conditions for the sale of the Property to Will Investments-Southside LLC and shall submit said terms and conditions to the Common Council for approval.