Fiscal Note
This resolution authorizes the sale of a vacant parcel of land. Anticipated revenues of $1,516.20 will be deposited in the General Land Acquisition Fund (MUNIS Project Code 10772-65-803).
Title
Approving the sale of a vacant parcel of land located at 4208 Milwaukee Street to Matrix Milwaukee Street, LLC.
Body
Matrix Milwaukee Street, LLC (the “Buyer”) has expressed an interest in acquiring a parcel of City-owned vacant land located at 4208 Milwaukee Street and depicted on the attached Exhibit (the “Property”). City surplus property procedures under MGO 8.075(2) 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. If no City department expresses its interest in the Property the EDD Director, with the assistance of the Director of the Department of Planning and Community and Economic Development 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 an abutting owner. If these parties determine that it is in the best interests of the City to sell the Property to the owner of the abutting property, the intent to sell the Property is submitted to the Common Council for approval.
Other City departments have been notified that the Property has been declared surplus and no department expressed interest in the Property. The Buyer, an abutting owner, has expressed interest in acquiring the Property. It has been determined that selling the Property to the Buyer upon the terms described herein is in the best interests of the City.
NOW THEREFORE BE IT RESOLVED that the Common Council hereby approves the sale of the Property to the Buyer under the following terms and conditions:
1. The Property. The Buyer shall purchase and the City (the “Seller”) shall sell and convey by Quit Claim Deed fee simple title to the Pro...
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