Number
13563
Version
Original
Reference
Modify original Offer to Purchase adopted 10/9/2024 Resolution No. 13508
Sponsor
The Chair
Title
Resolution to modify the previously authorized offer to purchase and related documents and instruments for the sale of 421 East Locust Street to Kinship Mke, Inc.
Analysis
Body
WHEREAS, pursuant to Resolution R-13496 the Housing Authority of the City of Milwaukee (“HACM”) approved the submission of a Petition to change the zoning for a parcel located at 421 East Locust Street adjacent to Holton Terrace in order to accommodate the development of a new Community Food Center by Kinship MKE, Inc. (“Kinship”); and
WHEREAS, the HACM Board and the U.S. Department of Housing and Urban Development (“HUD”) have previously approved an Application for Disposition of 421 East Locust Street (the “Property”); and
WHEREAS, HACM staff have met with the residents of Holton Terrace to evaluate their needs for development of the adjoining Property, which is located in an area designated as a “Food Desert”; and
WHEREAS, HACM staff advertised the Property for sale with submittal requirements, which included a requirement whereby the purchaser of the Property would need to concentrate on the provision of food and food services and covenants to assure that the uses of the Property would be consistent with the operation of Holton Terrace; and
WHEREAS, one response was received from Kinship, a not-for-profit entity formerly operating as the Riverwest Food Pantry; and
WHEREAS, Kinship proposes construction of a new building with modern design at a cost estimated in the amount of approximately $10 million dollars and will provide groceries and meals, create new local jobs and provide employment training and social services; and
WHEREAS, many of the residents at Holton Terrace are already patrons of Kinship; and
WHEREAS, HACM residents will be given opportunity to apply for Kinship’s culinary and catering workforce development employment opportunities at the new facility; and
WHEREAS, at the October 19, 2024 meeting, the Commissioners of the Housing Authority of the City of Milwaukee approved the sale of 421 East Locust Street to Kinship and the execution and delivery of an Offer to Purchase in substantially the form on file with the Secretary, with such minor non-substantive revisions as may be approved by the Secretary-Executive Director;
WHEREAS, both parties, Kinship and HACM, now wish to revise the Offer to Purchase by removing the Contingency referenced in lines 233 and 234 of the WB-15 Commercial Offer to Purchase that had required the parties to enter into an Owner’s Representation Agreement with Travaux.
NOW, THEREFORE, BE IT RESOLVED, by the Housing Authority of the City of Milwaukee that the revised Offer to Purchase is hereby approved and the proper Officers are hereby authorized and directed to execute and deliver a revised Offer to Purchase without the Contingency requirement to enter into an Owner’s Representation Agreement with Travaux.
BE IT FURTHER RESOLVED, that the Secretary-Executive Director or the Secretary-Executive Director’s designee is hereby authorized and directed to take all actions and execute any and all documents necessary to close on the conveyance of 421 East Locust Street to Kinship MKE, Inc.
Requestor
Drafter
Housing Management, 2/7/2025