Number
13756
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving an offer to purchase by Orvix, LLC for the Scattered Sites home located at 1302 South 21st Street, Milwaukee, WI for $111,000.
This is a 4-bedroom, single-family home located on the 8th Aldermanic District. The property has been vacant since 2024 due to repair costs exceeding HACM capacity to return the unit to NSPIRE Standards. This property has been approved for sale for the highest and best offer by the Special Application Center at the Department of Housing and Urban Development. The bid by Orvix, LLC is $7,000 over the appraised value and sale price.
Analysis
Body
WHEREAS, the Housing Authority of the City of Milwaukee (HACM) owns and manages more than 2,300 units of low-rent public housing under the terms of an Annual Contributions Contract with the U. S. Department of Housing and Urban Development (HUD); and
WHEREAS, HUD allows Public Housing Authorities to submit Disposition applications to dispose of all or part of public housing structures and land in excess of what is needed to operation efficiently;
WHEREAS, the property at 1302 S. 21st St. was vacated in 2024 and has renovation needs which exceeds the Scattered Sites budget to repair the unit to Housing Quality Standards; and,
WHEREAS, HUD has approved the Disposition of 1302 S. 21st St. at the Fair Market Value (FMV) of $104,000; and,
WHEREAS, the Offer to Purchase by Orvix, LLC. exceeds the FMV by $7,000; and,
WHEREAS, the Acting Secretary-Executive Director recommends accepting the Offer to Purchase of the Scattered Sites Property at 1302 S. 21st St. by Orvix, LLC. for $111,000; and therefore, let it be
RESOLVED, that the recommendation to accept the Offer to Purchase of the Scattered Sites Property at 1302 S. 21st St. by Orvix, LLC. for $111,000 is hereby accepted; and be it
FURTHER RESOLVED, that the Acting Secretary-Executive Director is hereby authorized to take whatever action is ...
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