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Meeting Date:
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Category:
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Report of the Committee on Accountability, Finance, and Personnel |
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Type:
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Subject:
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7. Action on a Request to Approve a Donation Agreement Between Milwaukee Public Schools, the City of Milwaukee, and Phillis Wheatley School Redevelopment, LLC, for the Property Located at 2442 North 20th Street |
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Strategic Plan Compatibility Statement:
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Goal 3 Effective and Efficient Operations
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Attachments:
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1. Proposed Donation Agreement
2. Purchase and Sale Agreement |
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File Attachment:
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Background:
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On March 31, 2011, the Board approved the closure of Phillis Wheatley K-8 School to be effective at the end of the 2010-2011 year-round school calendar. On January 29, 2015, the Board approved declaring the Phillis Wheatley K-8 School building as a surplus property.
On August 14, 2018, the City of Milwaukee Department of City Development listed the property for sale through a competitive request for proposal process with a deadline of September 14, 2018. Three proposals were received and evaluated by the City of Milwaukee Department of City Development. The strongest proposal was selected through the evaluation process and approved by the City of Milwaukee Common Council on November 5, 2018, which resulted in a final purchase and sale agreement dated November 27, 2019, along with a proposed donation agreement.
The approved price for the Phillis Wheatley K-8 School was $465,000 with $115,000 of that amount included in the purchase price section of the attached Purchase and Sale Agreement and the remaining balance of $350,000 structured under the attached Proposed Donation Agreement. The Administration is in the process of seeking a payment schedule to more clearly detail when Milwaukee Public Schools would receive the funds. The proceeds received from this sale will be deposited into the Milwaukee Public Schools school operations fund.
The Phillis Wheatley School Redevelopment project as proposed by the developer will feature three residential buildings, inclusive of the school, and two new construction buildings of two stories each. Catering to families, this development will offer 82 apartment homes comprised of (21) two bedroom units and (61) three bedroom units with 115 surface parking stalls. The developer’s vision is to create a place for residents committed to a healthy personal lifestyle and building a cohesive community. The project scope of work is estimated at $19.8M, and construction is scheduled to be completed by January of 2023. |
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Fiscal Impact Statement:
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There are no expenditures associated with this item. |
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Implementation and Assessment Plan: |
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Upon Board approval, the attached donation agreement will be signed and properly filed with the City of Milwaukee. |
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Recommendation
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This item is part of a report to be formulated from a meeting to be held subsequent to the publication of this advance copy of the agenda, which will be forward to the Board prior to its meeting. |
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Approvals:
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Recommended By: |
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Signed By: |
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Jacqueline M. Mann, Ph.D. - Board Clerk/Chief Officer |
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