Number
080178
Version
ORIGINAL
Reference
Sponsor
ALD. WADE
Title
Resolution approving an offer to purchase for the City-owned vacant lots at 3119 North Richards Street and 2321 West Burleigh Street for sale to the Housing Authority of the City of Milwaukee for residential housing development, in the 6th and 7th Aldermanic Districts.
Analysis
This resolution authorizes the sale of City-owned Neighborhood Property for residential housing development.
Body
Whereas, The Housing Authority of the City of Milwaukee (“HACM”) has offered to purchase the City-owned vacant lots at 3119 North Richards Street and 2321 West Burleigh Street for assemblage with its adjoining properties and housing development; and
Whereas, HACM proposes to build three houses for rent to low income families with options to purchase 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 buy property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The City will receive fair compensation through new home construction, neighborhood improvements and affordable rentals for families; and
Whereas, The Department of City Development (“DCD”) recommends sale of these lots with closing contingent on DCD approval of final site and building plans; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the offer to purchase submitted by HACM for the City-owned vacant lots at 3119 North Richards Street and 2321 West Burleigh Street for purchase and development, as outlined in the Land Disposition Report, be accepted; and, be it
Further Resolved, That the Commissioner of DCD or designee is authorized to execute the offer, grant a deed, release any deed restrictions that inhibit development and execute other 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 sale proceeds shall be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD/Real Estate
YSL:ysl
05/20/08/B