Number
071130
Version
ORIGINAL
Reference
Sponsor
Ald. Wade and Donovan
Title
Resolution authorizing the sale of City-owned vacant lots at 2758 and 2764 North 27th Street and 1336 South 22nd Street to the Milwaukee Community Service Corps, Inc., for housing development, in the 7th and 8th Aldermanic Districts.
Analysis
This resolution authorizes the sale of City-owned Neighborhood Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-7, Milwaukee Code of Ordinances.
Body
Whereas, The Milwaukee Community Service Corps, Inc., (“MCSC”) has offered to purchase three City-owned vacant lots at 2758 and 2764 North 27th Street and 1336 South 22nd Street for $1.00 each to construct new homes 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 to accept unsolicited offers to buy property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, Sale of these lots will allow MCSC to develop affordable housing to be sold to owner-occupant, Milwaukee residents; 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 recommends sale of these lots with closing contingent on DCD approval of final site and building plans and evidence of firm financing; and
Whereas, The lots will be sold in “as is” condition without representations or warranties including but not limited to soil quality and subsurface conditions; 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 submitted by the Milwaukee Community Service Corps, Inc., for the lots listed herein; and, be it
Further Resolved, That the Commissioner of DCD or designee is authorized to execute 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 Commissioner of DCD may amend the offer, after notice to the local alderman, pursuant to Section 304-49-2, Milwaukee Code of Ordinances, to substitute different City-owned lots in the target area in the event physical or title problems prevent conveyance of a lot or if additional lots become available due to tax foreclosure or termination of outstanding offers if the new lots are more suitable for MCSC’s program; and, be it
Further Resolved, That the proper City officials are authorized to execute an Emerging Business Enterprise Agreement with the buyer; 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
11/21/07/B