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File #: 131632    Version:
Type: Resolution Status: Passed
File created: 3/4/2014 In control: COMMON COUNCIL
On agenda: Final action: 4/2/2014
Effective date:    
Title: Substitute resolution authorizing the Department of City Development to enter into an agreement with ACTS Community Development Corporation, as part of the Strong Neighborhoods Plan, to increase sales of City-owned property for owner-occupancy and appropriating funds for this purpose.
Sponsors: ALD. MURPHY, ALD. BOHL, ALD. BAUMAN
Indexes: AGREEMENTS, CITY PROPERTY, PROPERTY SALES
Attachments: 1. Executed Agreement, 2. Fiscal Impact Statement, 3. Term Sheet as of 3-17-14, 4. Hearing Notice List, 5. Executed Amendment No. 2, 6. Executed Agreement Dated 5-25-16
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
4/11/20141 MAYOR SIGNED   Action details Meeting details Not available
4/2/20141 COMMON COUNCIL ADOPTEDPass14:0 Action details Meeting details Not available
3/25/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Individuals appearing: Maria Prioletta, Department of City Development Mario Higgins, Mayor's Office Housing Outreach Director President Michael Murphy, 10th Aldermanic District Carl Quindel, ACTS Community Development Corporation Jesus Camino Benjamin Engel, J.F. Cook Co., Inc. Ald. Ashanti Hamilton, 1st Aldermanic District Ald. Bauman added as cosponsor.
Pass5:0 Action details Meeting details Video Video
3/21/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/19/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/19/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/19/20141 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
3/19/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/19/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/19/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/19/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/4/20140 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
131632
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. MURPHY, BOHL AND BAUMAN
Title
Substitute resolution authorizing the Department of City Development to enter into an agreement with ACTS Community Development Corporation, as part of the Strong Neighborhoods Plan, to increase sales of City-owned property for owner-occupancy and appropriating funds for this purpose.
Analysis
This substitute resolution authorizes the City to enter into an agreement with ACTS under which ACTS will secure buyers for City-owned residential homes and will work with the buyers to prepare them for homeownership and assist them in making the repairs necessary to bring properties to a code compliant condition.
Body
Whereas, The City of Milwaukee (“City”) owns over 1,200 residential properties that it acquired by property tax foreclosure; and

Whereas, ACTS Community Development Corporation (“ACTS”) has worked with the City in the past by acquiring City-owned tax foreclosed properties and reselling them for homeownership; and

Whereas, The City and ACTS wish to enter an agreement, materially and substantially consistent with a Term Sheet, a copy of which is attached to this Common Council File, whereby the City will provide ACTS with funding to expand the capacity of ACTS to increase its sales of City-owned properties for homeownership and establish a forgivable loan program to buyers of City homes; and

Whereas, ACTS will find buyers for City homes valued at $15,000 or less that are within ACTS three target areas and will provide buyers with pre and post purchase homeownership counseling and assistance in the rehabilitation of the home they are purchasing to return it to a code compliant condition; and

Whereas, Consistent with the Strong Neighborhoods Plan, the City, by its Common Council, recognizes the public benefit of: returning City-owned properties to the tax rolls; restoration of tax foreclosed homes; stabilization of neighborhoods; reduction of blight; and foster...

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