Fiscal Note
The proposed resolution authorizes the execution of the Purchase and Sale Agreement of City of Madison-owned vacant land at 3614 Milwaukee St. The City will pay a portion of closing related costs, as detailed in the Purchase and Sale Agreement, and the balance of proceeds from the $266,700.00 purchase price shall be deposited into Munis project 14714 (2024 Park Land Acquisition). No additional City appropriation is required.
Title
Authorizing the City’s execution of a Purchase and Sale Agreement between Starkweather, LLC, and the City of Madison for the disposal of City-owned vacant land located at 3614 Milwaukee Street. (District 15)
Body
WHEREAS, the City of Madison (“Seller”) is the owner of the property located at 3614 Milwaukee Street, Madison, Wisconsin, Parcel No. 251/0710-042-0093-8, totaling approximately 66,672 square feet of vacant land (“Property”); and
WHEREAS, Starkweather, LLC (“Buyer”), desires to purchase the Property for assemblage with adjacent lands the Buyer has under contract to purchase, all to be include in their proposed preliminary Starkweather Plat and development project, as detailed further in File ID No. 78642; and
WHEREAS, City of Madison Parks Division staff have confirmed that, based on the Buyer’s proposed development plan, which includes substantially improved parkland and access to the existing Starkweather Park, the Property is not needed for any future park purposes and therefore can be considered surplus to City needs; and
WHEREAS, the Property is grant restricted by the Wisconsin Department of Natural Resources (“WI DNR”), thus Parks Division staff have obtained WI DNR approval of the proposed sale of the Property, provided certain conditions of park access and expansion are met, which conditions have been agreed upon by the City and Buyer; and
WHEREAS, per the City’s Disposal of Surplus Property Ordinance (MGO 8.075), the following has occurred:
- All City Departments have been notified of this surp...
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