Number
061160
Version
SUBSTITUTE 1
Reference
051170
Sponsor
ALD. HINES
Title
Substitute resolution to expand the boundary for the Metcalfe Park Lease-to-Own Program from North 27th Street to North 39th Street between West Vine and West Center Streets and to declare the City-owned vacant lots in this area surplus to municipal needs and authorize conveyance to Gorman Company, in the 15th Aldermanic District.
Analysis
This substitute resolution authorizes the sale of a vacant land according to the conditions in the Land Disposition Report pursuant to Section 304-49-17, Milwaukee Code of Ordinances.
Body
Whereas, By passage of Resolution Files No. 051170 on January 18, 2006, the Common Council of the City of Milwaukee authorized sale of vacant City-owned vacant lots between North 27th and North 38th Streets from West North to West Center Streets in the Metcalfe Park neighborhood to Gorman Company for the Metcalfe Park Lease-to-Own housing initiative; and
Whereas, Gorman Company has received affordable housing tax credits from the Wisconsin Housing and Economic Development Authority for the first phase of its Lease-to-Own program, but desires additional lots for Phase II of the program; and
Whereas, Gorman Company has requested that the boundary for its lot purchase be expanded to North 39th Street between West Vine and Center Streets as summarized in the attached Land Disposition Report; and
Whereas, Section 304-49-17 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 contribution to the tax base; and
Whereas, DCD also recommends acceptance of an unsolicited offer since the second phase will compliment the first phase of the project and will help fulfill a development goal of the Metcalfe Park Tax Incremental District Project Plan; and
Whereas, The City Plan Commission determined that these lots are surplus to municipal needs; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City-owned vacant lots in the expanded boundary to North 39th Street from West Vine to Center Street are declared surplus to municipal needs and the offer to purchase submitted by Gorman Company as outlined in the Land Disposition Report is accepted; and, be it
Further Resolved, That the Commissioner of DCD or designee is authorized to execute an Offer or Option to Purchase, an Agreement for Sale, release of any deed restrictions that inhibit development and other legal documents on behalf of the City of Milwaukee 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 directed to execute an Emerging Business Enterprises Agreement with the buyer; and, be it
Further Resolved, That in the event the City acquires additional buildable lots in the project area that are suitable for inclusion in the project, the additional lots may be included in the conveyance without additional consideration by the Council or City Plan Commission; and, be it
Further Resolved, That the sale proceeds, less a 25 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee and other sale expenses, shall be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD/Real Estate
EMM:bmm
12/12/06