Fiscal Note
No appropriation is required. The City will forego sale proceeds of $23,880 from the sale of surplus property to support the buyer's efforts to relocate and preserve a historic property.
Title
Approving the sale of a vacant parcel of land located at 153 Proudfit Street to 151, LLC.
Body
151, LLC (the “Buyer”) has expressed an interest to acquire a parcel of City-owned vacant land located at 153 Proudfit Street and depicted on Exhibit A attached hereto (the “Property”). City surplus property procedures 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 upon those terms 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, expressed interest in acquiring the Property. It has been determined that selling the Property to the Buyer upon the terms expressed herein is in the best interests of the City.
The Property was transferred to the City in 1961 from the Wisconsin Department of Transportation (WISDOT) for the sale price of $1.00. When the Property was transferred to the City, there were three deed restrictions recorded on the property. The deed restrictions state:
• No ingress or egress from (the Property) onto Proudfit Stree...
Click here for full text