IMMEDIATE ADOPTION
Number
240714
Version
ORIGINAL
Reference
221277, 240249, 240348
Sponsor
ALD. STAMPER
Title
Resolution authorizing extension of deadline for lot selection and closing on the sale of City-owned vacant lots to Community Development Alliance or assigns, for construction of new 1-2 family homes, as a part of its Midtown Homeownership Initiative, within TID No. 119, in the 15th Aldermanic District.
Analysis
This resolution authorizes an extension of a previously passed resolution for the sale of 55 City-owned vacant lots within TID No. 119 to support the Community Development Alliance’s Midtown Homeownership Initiative 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, The Redevelopment Authority of the City of Milwaukee, and Neighborhood Improvement Development Corporation collectively own 55 developable vacant lots within Tax Incremental District (TID) No. 119; and
Whereas, The Community Development Alliance (“CDA”) has plans and funding to build 55 new construction 1-2 family homes for owner occupancy within TID No. 119; and
Whereas, The Common Council of the City of Milwaukee (“Common Council”) approved Resolution No. 221277 on January 17, 2023, giving the Department of City Development (“DCD”) authority to sell lots to CDA and assigns for new home construction with a deadline for lot selection and closing of January 17, 2024; and
Whereas, The Common Council approved Resolution No. 240249 and Resolution No. 240348 creating Tax Incremental District No. 119 and establishing its boundary on July 30, 2024; and
Whereas, CDA and assigns are now modifying their lot selection and closing dates on the lots due to the newly-approved TID No. 119; and
Whereas, DCD recommends sale to CDA and assigns as summarized in a Land Disposition Report (“LDR”) and a Due Diligence Checklist (“DDC”), copies of which are attached to this Commo...
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