Fiscal Note
The City Attorney's Office has indicated that, under State law, proceeds from the sale of this parcel must be used for Park improvements. Therefore, the anticipated sale proceeds of $101,787 less closing costs not exceeding $4,000 will be deposited into the Park Land Acquisition Account CL60-78320-810402.
Title
Accepting an Offer to Purchase from Will South Side LLC for the purchase of a surplused City-owned parcel of land within Doncaster Park located at 4335 Doncaster Drive. 10th Ald. Dist.
Body
PREAMBLE
The Wisconsin Department of Transportation ("WISDOT") acquired 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 South Side LLC, owner of the apartment complex abutting the City-owned Doncaster Park located at 4335 Doncaster Drive. WISDOT requested that a parcel of land within Doncaster Park (the "Property") (as shown on the attached map) 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.
The Park Division declared the parcel of land within Doncaster Park 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. On March 21, 2006 the Common Council adopted a resolution (Enactment Number RES-06-00285) approving the intent of the Parks Division to sell the Property to Will South Side LLC. to provide replacement parking for the abutting apartment complex. The resolution further directed the City Real Estate Section to negotiate the terms and conditions for the sale of the Property to Will South Side LLC and to submit said terms and conditions to the Common Council for approval.
The Property is part of a parcel of land that was dedicated to the City of Madison when the plat was recorded for a Children's Playground. Section 236.293, Wis. Stats. provides that "any restriction placed on platted land by covenant, grant of easement or in any other manner, which was required by a public body or which names a public body or public utility as grantee, promisee or beneficiary, vests in the public body or public utility the right to enforce the restriction at law or in equity against anyone who has or acquires an interest in the land subject to the restriction. The restriction may be released or waived in writing by the public body or public utility having the right of enforcement." In order to be able to sell the land the City Attorney's Office has determined that the Common Council must waive the playground restriction for the Property. In addition, in order to receive title insurance for lands previously dedicated to park purposes and converted to some other use, all proceeds of the sale of the Property must be used for improvements to Doncaster Park or other City parks.
NOW, THEREFORE BE IT RESOLVED that the Common Council of the City of Madison (the "City") hereby accepts an Offer to Purchase (the "Offer") from Will South Side LLC (the "Buyer") for the purchase of a parcel of City-owned land within Doncaster Park located at 4335 Doncaster Drive (the "Property"), as legally described below and shown on the attached map, to provide replacement parking for the abutting apartment complex subject to the following terms and conditions:
1. The City agrees to sell to the Buyer and the Buyer agrees to purchase from the City the Property.
2. The total purchase price for the Property shall be One Hundred One Thousand Seven Hundred Eighty Seven and no/00 Dollars ($101,787.00), payable in cash at closing, subject to the adjustments and prorations set forth in the Offer.
3. The City shall provide to the Buyer at the City's expense at least ten (10) business days prior to closing a commitment from a title insurance company licensed in Wisconsin to issue title insurance in the amount of the total purchase price upon the recording of proper documents. The commitment shall show title to the Property, as of a date no more than fifteen (15) days before such title proof is provided to the Buyer, to be in the condition called for in this Offer, subject only to liens which will be paid out of the proceeds of the closing and to any standard title insurance exception, as appropriate, together with a gap coverage endorsement. The Buyer shall notify the City of any valid objection to title, in writing, prior to closing. The City shall have a reasonable time, but not exceeding fifteen (15) days, to remove the objections, and closing shall be extended as necessary for this purpose. Should the City be unable or unwilling to carry out this Offer by reason of a valid legal defect in title which the Buyer is unwilling to waive, this Offer shall be void.
4. Prior to the date of closing, the Buyer and its agents shall be given the opportunity to conduct such inspections of the Property as the Buyer deem reasonably necessary related to matters such as, but not limited to, the physical condition of the improvements located upon the Property, soil conditions, location of flood plain/wetlands boundaries, environmental conditions (adverse or otherwise), matters which would be revealed by survey, zoning, building or land use restrictions and other laws, ordinances, rules or regulations affecting the Property or the Buyer's intended use thereof. The Buyer acknowledges that it does not now, and will not hereafter, rely upon any warranty, promise, guaranty or representation regarding any aspect of the Property (including, but not limited to, those matters referred to immediately above) made by the City or anyone acting or claiming to act on the City's behalf, except as expressly and specifically otherwise provided in this Offer. The Buyer shall rely exclusively upon the results of the inspections and evaluations it is entitled to make pursuant to this Offer, whether or not such inspections and evaluations are made. The Property shall be conveyed to the Buyer without warranty, express or implied, or in reliance on any representation given by the City, excepting those matters expressly and specifically provided for in this Offer. Notwithstanding the foregoing, in the event the results of such inspections and evaluations of the Property shall be unacceptable to the Buyer, the Buyer may terminate this Offer by giving written notice to the City at any time prior to the date of closing.
5. Closing shall take place on or before September 15, 2006, or at a later date agreed to by the parties, at the offices of the title company providing the title insurance described in Paragraph 3 above.
6. The City agrees to execute and deliver to the Buyer at closing a Quit Claim Deed conveying the Property to the Buyer.
7. The Buyer shall pay all recording/filing fees except that the City shall pay the recording/filing fees for such documents as are required to be recorded/filed in order to cause title to the Property to be in the condition called for in the Offer.
BE IT FURTHER RESOLVED that an amount not to exceed $4,000 be allocated to fund miscellaneous closing costs including title insurance and plat of survey.
BE IT STILL FURTHER RESOLVED that the Common Council hereby waives the dedication and restriction of the Property as a Children's Playground and that all proceeds from the sale of the Property be used for improvements of Doncaster Park or other City parks.
BE IT STILL FURTHER RESOLVED that the Mayor and City Clerk are authorized to execute, deliver and record such documents and to take such other actions as shall be necessary or desirable to accomplish the purposes of this resolution.
LEGAL DESCRIPTION
Part of the Children's Playground, Nakoma Park, City of Madison, Dane County, Wisconsin being more particularly described as follows: Beginning at the Southeast corner of Lot 47, Nakoma Park; Thence along the West right of way Line of Doncaster Drive and a curve to the left having a radius of 141.80 feet and a long chord bearing and distance of S01º02'22"W, 37.82 feet to the point of tangency; Thence continuing along said right of way, S06º37'25"E, 220.50 feet to a point of curvature; Thence along a curve to the left having a radius of 268.80 feet and a long chord bearing and distance of S16º03'31"E, 87.97 feet; Thence S83º31'35"W, 84.94 feet; Thence N57º12'07"E, 22.38 feet; Thence N06º37'25"W, 274.16 feet; Thence N35º54'15"E, 82.11 feet to the Southeast corner of said Lot 47 and the point of beginning. Said parcel contains 16,286 square feet.