Title
Reconsideration of resolution approving the City of West Allis' reacquisition rights for three parcels that are comprised of McKinley Park (Tax Keys: 440-0213-002, 440-0213-003, 440-0004-001).
Body
WHEREAS, in 2014, the City of West Allis ("City") sold three parcels (Tax Keys: 440-0213-002, 440-0213-003, 440-0004-001)("the Property") of land that comprised of McKinley Park to the School District of West Allis-West Milwaukee, et al; and,
WHEREAS, as a condition of the sale of the Property outlined in a Memorandum of Agreement (the "Agreement") dated September 29, 2014 and approved on April 15, 2014 by Resolution No. R-2014-0094, hereby incorporated herein for reference, the City retained that right to repurchase the Property for One Dollar upon such time that the School District of West Allis-West Milwaukee, et al, decided to sell the Property; and,
WHEREAS, per the Agreement, the City received notification from the School District of West Allis-West Milwaukee, et al, on September 28, 2017 of their intent to sell the Property; and,
WHEREAS, per the Agreement, upon receipt of the notification from the School District of West Allis-West Milwaukee, et al, the City has 30 days to inform the School District of its intent to repurchase the Property; and,
WHEREAS, by the Common Council exercising its rights under the Memorandum of Agreement for the reacquisition of land, the City will assign its right to take ownership of the Property to West Quarter East, LLC and the School District of West Allis-West Milwaukee will convey the Property to West Quarter East, LLC pursuant to that assignment.
WHEREAS, the Director of Development recommends the assignment of the City's rights to the Property in order to attract future redevelopment within the S. 70th Street Corridor.
NOW, THEREFORE, UPON RECONSIDERATION, BE IT RESOLVED, by the Common Council of the City of West Allis, as follows:
1. The City hereby authorizes the reacquisition rights for three parcels th...
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