Fiscal Note
This resolution authorizes a sale of the 640 East Gorham Street property for $101,000, along with a 99 year land-lease between the City and purchasers. Sales proceeds will be deposited into Parks capital account CP60-78320-810639. (Please see 2010 Adopted Capital Budget, Parks Project #29 "James Madison Park Improvements".)
Title
Accepting a proposal from Joe Lusson and Aleen Tierney for the purchase of the residential structure located at 640 East Gorham Street within James Madison Park and authorizing staff to negotiate final terms for the sale of the residential structure and a lease of the land beneath it to Joe Lusson and Aleen Tierney.
Body
WHEREAS, on April 14, 2004, the Madison Board of Park Commissioners declared the residential structure located at 640 East Gorham Street, but not the land underneath it, surplus to the needs of the City of Madison Parks Division; and
WHEREAS, the Mayor established the James Madison Park Disposal Surplus Criteria and Selection Committee (the "Committee") pursuant to Madison General Ordinance 8.075 Disposal of Surplus City Real Property; and
WHEREAS, the Committee identified the type(s) of use(s) and any special conditions desired for the residential structure located at 640 East Gorham Street (the "Property"); and
WHEREAS, the Committee established criteria with point values to be used in the evaluation of bid proposals submitted by potential purchasers of the Property; and
WHEREAS, the Committee, after having conducted a public hearing and held numerous public meetings to gather input on the future use of the structures, recommended the issuance of the Request for Proposals (the "RFP"); and
WHEREAS, the Common Council approved the issuance of in the RFP on March 16, 2011 (RES-11-00248, File ID 21244); and
WHEREAS, Joe Lusson and Aleen Tierney submitted a response to the RFP to purchase the Property for $101,000 and enter into a 99 year land-lease with the City to occupy the Property as a single family home; and
WHEREAS, the Committee recommended that the Common Council accept the proposal of Joe Lusson and Aleen Tierney,
NOW, THEREFORE, BE IT RESOLVED, that the Common Council determines that it is in the best interests of the City to sell the Property to Joe Lusson and Aleen Tierney for its adaptive rehabilitation and reuse as a single family home and to provide a long-term land lease for the ground under the structure, and;
BE IT FURTHER RESOLVED, that staff from the City Parks Division, the City Attorney's Office, and the Office of Real Estate Services are authorized and directed to enter into negotiations on behalf of the City of Madison to determine the terms of the conveyance of the Property and a lease of the land beneath the Property between the City of Madison and Joe Lusson and Aleen Tierney, the terms of which will be subject to Council approval by separate resolution.