Fiscal Note
This resolution authorizes a sale and lease of the property located at 646 East Gorham Street (the Ziegelman House) for $190,000. Parks 2012 Capital Project #30 "James Madison Park" provides that proceeds from the sale or lease of all properties within the Park will be divided equally between James Madison Park and general parklands.
Title
Accepting a proposal from Dawn O'Kroley for the purchase of the residential structure located at 646 East Gorham Street within James Madison Park and authorizing staff to negotiate final terms for the purchase of the residential structure and a lease of the land beneath it.
Body
WHEREAS, on April 14, 2004, the Madison Board of Park Commissioners declared the residential structure located at 646 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 646 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 September 20, 2011 (RES-11-00789, File ID 23898); and
WHEREAS, Dawn O'Kroley (the "Respondent") submitted a response to the RFP to purchase the Property for $190,000 and enter into a 99 year land-lease with the City to occupy the Property as an owner occupied multi-family home containing four (4) total dwelling units; and
WHEREAS, the Committee recommended that the Common Council accept the proposal of Dawn O'Kroley,
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 the Respondent for its adaptive rehabilitation and reuse as a owner occupied multi-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 ground lease of the land beneath the Property between the City of Madison and Respondent, the terms of which will be subject to Council approval by separate resolution.
BE IT FURTHER RESOLVED that the Respondent shall have one hundred eighty (180) days from the adoption date of this resolution to secure financing and land use approvals or the City's acceptance of the Respondent's response shall be null and void.