Title
Resolution relative to determination of Special Use Permit for a proposed hotel to be located at 1010, 1040 & 1126 S. 70 St.
Body
WHEREAS, Kraig Sadownikow, applicant on behalf of 70th Street Hotel Associates, LLC, duly filed with the City Clerk an application for a Special Use Permit; pursuant to Sec. 12.42(2) and Sec. 12.16 of the Revised Municipal Code, to establish a hotel at 1010, 1040 & 1126 S. 70th St.; and,
WHEREAS, after due notice, a public hearing was held by the Common Council on February 5, 2019, at 7:00 p.m. in the Common Council Chamber to consider the application; and,
WHEREAS, the Common Council, having carefully considered the evidence presented at the public hearing and the following pertinent facts noted:
1. The applicant, Kraig Sadownikow, applicant on behalf of 70th Street Hotel Associates, LLC, has offices at 3350 S. River Road, West Bend, Wisconsin 53095. The prospective property owner is West Quarter East, LLC c/o Cobalt Partners, LLC with offices at 207 N. Milwaukee Street, Milwaukee, WI 53202. The managing member of the hotel group is Bruce Kinseth, Senior Vice President of Kinseth Hospitality Companies, 2 Quail Creek Circle North Liberty Iowa 52317.
The overall 9-acre land parcel at 1010-1304 S. 70 St. will initially be purchased by a Cobalt entity (West Quarter East, LLC). The Cobalt entity will then sell the 1-acre hotel parcel (upon approval and the CSM is recorded) to 70th Street Hotel Associates, LLC. 70th Street Hotel Associates, LLC will own the land and have the hotel designed & built by Kraig Sadownikow's company (American Companies - Design/Build). Ownership in 70th Street Hotel Associates, LLC will include entities/principals of American Companies - Design/Build, Kinseth Hospitality Companies, and Cobalt Partners, LLC (and likely a few other investors). Kinseth Hospitality Companies will manage the property once it opens and going forward.
2. The prospective property owner (West Quarter East, LLC c/o Cobalt ...
Click here for full text