Number
080182
Version
ORIGINAL
Reference
Sponsor
ALD. COGGS AND HINES
Title
Resolution authorizing the sale of the City-owned Neighborhood Properties at 5461 North 41st Street, 519 East Keefe Avenue, 2554 North 34th Street, 1830 West Meinecke Avenue and 2511 North 37th Street to the Milwaukee Community Service Corps, Inc. for housing production, in the 1st, 6th and 15th Aldermanic Districts.
Analysis
This resolution authorizes the sale of City-owned Neighborhood Properties according to the conditions in the Land Disposition Report pursuant to Section 304-49-7, Milwaukee Code of Ordinances.
Body
Whereas, The Milwaukee Community Service Corps, Inc. (“MCSC”), a non-profit organization, is a certified Community Housing Development Organization of the U.S. Department of Housing and Urban Development that rehabilitates and constructs affordable housing for the City of Milwaukee (“City”) using Community Development Block Grant (CDBG) funds allocated by the Community Development Grants Administration office; and
Whereas, MCSC has offered to purchase for $1,000 each the City-owned Neighborhood Properties at 5461 North 41st Street, 519 East Keefe Avenue, 2554 North 34th Street, 1830 West Meinecke Avenue and 2511 North 37th Street to renovate each house at a cost of about $100,000 using CDBG funds and then to sell the finished homes to owner-occupants as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, The Department of City Development (“DCD”) property sale policies provide for Common Council approval when a buyer requests to purchase more than two Neighborhood Properties to ensure the buyer has the financial resources and staff capacity to complete the rehabilitations; and
Whereas, Section 304-49-7 of the Milwaukee Code of Ordinances allows the City to accept unsolicited offers to buy Neighborhood Property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, MCSC supports the community through its homeownership efforts and training programs and the sale of these Neighborhood Properties will allow it to continue these efforts; and
Whereas, DCD recommends sale of these Neighborhood Properties upon receipt of CDBG funding and provision of acceptable scopes of work; 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 Offer to Purchase from MCSC for the Neighborhood Properties at 5461 North 41st Street, 519 East Keefe Avenue, 2554 North 34th Street, 1830 West Meinecke Avenue and 2511 North 37th Street for purchase and renovation as outlined in the Land Disposition Report; and, be it
Further Resolved, That in the event the buyer is unable to complete the purchase of any of these properties, disposition will proceed using the open listing method upon approval of a Neighborhood Property Report by the respective member of the Common Council; and, be it
Further Resolved, That as a condition of the sale of the Neighborhood Properties, the buyer is required to bring property into compliance with applicable building codes within the time specified by the Department of Neighborhood Services or said properties may revert to the ownership of the City upon action by the Common Council; and, be it
Further Resolved, That the Commissioner of DCD or designee is authorized to execute the deeds and 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 be credited, less closing related expenses and a 30 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee, to the Reserve For Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD-Real Estate
KT:kt
05/20/08/A