Number
241875
Version
ORIGINAL
Reference
Sponsor
ALD. STAMPER
Title
Resolution authorizing the sale of four City of Milwaukee owned vacant lots, located at 2635-2647 North 35th Street, to Turner Community Partners for construction of four new single-family homes, in the 15th Aldermanic District.
Analysis
This resolution authorizes the sale of four vacant City of Milwaukee owned lots in the Metcalfe Park neighborhood to Turner Community Partners for new home construction, according to the conditions in a Land Disposition Report pursuant to Section 304-49-4 and 304-49-8, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee owns four residential vacant lots located at 2635, 2639, 2643, and 2647 North 35th Street; and
Whereas, Turner Community Partners (“TCP” or “Buyer”) has the funding and capacity to build four new construction single family homes by the end of 2026 in partnership with Metcalfe Park Community Bridges (“MPCB”) and with funding through Local Initiatives Support Corporation; and
Whereas, TCP and MPCB have approached the Department of City Development (“DCD”) requesting to purchase these lots; and
Whereas, DCD recommends sale to TCP of these four lots as summarized in a Land Disposition Report (“LDR”) and a Due Diligence Checklist (“DDC”), copies of which are attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the LDR and DDC are approved and that DCD is authorized to enter into a Purchase and Sale Agreement (“PASA”) with TCP, materially consistent with the LDR and then convey the property to the Buyer in accordance therewith; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign the PASA, deed and requisite closing documents and to close the transaction and to take such actions as may be needed to effectuate the terms of the LDR and this resolution; and, be it
Further Resolved, That the sale proceeds, less sale ...
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