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. Any sale proceeds will be credited to the parking utility.
Title
Approving the intent of the Parking Utility to sell the Evergreen Parking Lot located at 1802 Monroe Street to Monroe Neighbors, LLC
Body
The Parking Utility has declared the Evergreen Parking Lot located at 1802 Monroe Street surplus to its needs. City surplus property procedures provide that other City departments must be notified of the surplused property and provided an opportunity to express their interest in the property. If no City department expresses its interest in the surplused 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 this intent to sell, 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.
Other City departments have been notified that the property has been surplused but no department expressed interest in acquiring the property. Monroe Neighbors, LLC is the owner of the property that abuts the surplused property and has expressed interest in acquiring the property for incorporation into its planned Monroe Commons mixed-use redevelopment project. It has been determined that selling the property to Monroe Neighbors, LLC to facilitate its proposed redevelopment project is in the bes...
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