Number
190403
Version
SUSTITUTE 1
Reference
Sponsor
ALD. COGGS, BAUMAN, STAMPER, RAINEY AND PEREZ
Title
Substitute resolution approving a contract among the Redevelopment Authority of the City of Milwaukee, the City of Milwaukee, JCP Construction LLC, a JCP-related entity, and the Milwaukee Area Technical College for sale and rehab of a City-owned house, in the 6th Aldermanic District.
Analysis
This substitute resolution approves a contract among the Redevelopment Authority of the City of Milwaukee (RACM), the City of Milwaukee (City), JCP Construction LLC (JCP), a JCP-related entity (LLC), and Milwaukee Area Technical College (MATC) for City sale of 2606 North Holton Street to LLC for rehab by MATC and then sale, with part of the sale proceeds being put back into a RACM fund for hopeful repetition of this model where blight gets reduced, tax-foreclosed homes get rehabbed and returned to the tax rolls, and students earn college credits and valuable hands-on experience to enhance their knowledge, skills and employment opportunities.
Body
WHEREAS, The City of Milwaukee owns roughly 1,000 tax-foreclosed homes, many of which suffer from severe deferred maintenance, which the City markets for sale under MCO 304-49, and one of the homes the City owns is at 2606 North Holton Street; and
WHEREAS, MATC is a premier technical college that provides educational and training opportunities for its students through diverse course offerings and apprenticeship programs, which include, among other things, skilled trades; and
WHEREAS, JCP is a family-owned construction company with substantial experience in residential and commercial real estate, including construction, rehab, general contracting and construction management, and LLC is owned and managed by JCP; and
WHEREAS, The Wisconsin Legislature, in Wis. Stat. 66.1107 (1)(a), 66.1201 (2) and (4)(b), 66.1301 (2), 66.1331 (2), 66.1013, 66.1333, 66.1335, and 66.1337 (2), found that there exists in cities in Wisconsi...
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