Number
081713
Version
ORIGINAL
Reference
Sponsor
ALD. HINES
Title
Resolution authorizing the sale of the City-owned vacant lots at 2501 and 2513 West Fond du Lac Avenue to Heartland Housing, Inc. for the development of a supportive housing facility, in the 15th Aldermanic District.
Analysis
This resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-7, Milwaukee Code of Ordinances.
Body
Whereas, Heartland Housing, Inc. has proposed to assemble a development site to construct a supportive housing facility at 2501 through 2513 West Fond du Lac Avenue; and
Whereas, Heartland Housing, Inc. has submitted an unsolicited offer to purchase the City-owned vacant lots at 2501 and 2513 West Fond du Lac Avenue that comprise a portion of the development site, as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-7 of the Milwaukee Code of Ordinances allows the City of Milwaukee (“City”) to accept unsolicited offers to purchase property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The Department of City Development (“DCD”) has reviewed the offer and the development proposal and has determined that the proposed price and redevelopment represents fair compensation to the City considering the investment in the neighborhood and the provision of mental health and housing services to the community; and
Whereas, DCD recommends sale of these properties with closing contingent on DCD approval of final site and building plans and evidence of firm financing; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Commissioner of DCD, or designee, is authorized to accept the unsolicited offer to purchase submitted by Heartland Housing, Inc. for the City-owned vacant lots at 2501 and 2513 West Fond du Lac Avenue for purchase and development as outlined in the Land Disposition Report; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to release any deed restrictions that inhibit development and execute required legal documents on behalf of the City and to close the transaction according to the terms of the Land Disposition Report; and, be it
Further Resolved, That the proper City officials are authorized to execute an Emerging Business Enterprise Agreement with Heartland Housing, Inc.; and, be it
Further Resolved, That the sale proceeds, less sale expenses and a 30 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee, shall be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD/Real Estate
YSL:ysl
04/14/09/A