Number
111188
Version
SUBSTITUTE 1
Reference
Sponsor
ALDS. HINES AND WADE
Title
Substitute resolution authorizing the sale of a City-owned multi-family property, in the 6th Aldermanic District, and scattered-site houses, in the 1st, 6th, 7th and 15th Aldermanic Districts, for rehabilitation for affordable housing.
Analysis
This substitute resolution authorizes the sale of a City-owned Development Property pursuant to Section 304-49-5, Milwaukee Code of Ordinances, and multiple Neighborhood Properties pursuant to Section 304-49-7, Milwaukee Code of Ordinances, according to the conditions in a Land Disposition Report.
Body
Whereas, The City of Milwaukee (“City”) acquired four multi-family and mixed-use buildings through tax foreclosure and the Department of City Development (“DCD”) listed the properties for sale and rehabilitation; and
Whereas, DCD received proposals for two properties prior to the established deadline and recommends acceptance of an offer for one property from Gorman and Company, Inc. (“Gorman”) for the property at 2958-68 North 2nd Street as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-5, Milwaukee Code of Ordinances, requires Common Council approval of the sale of Development Property; and
Whereas, Gorman desires to complement rehabilitation of the multi-family building with the renovation of scattered-site, tax-deed homes to submit a strong application to the Wisconsin Housing and Economic Development Authority for a 2012 allocation of federal affordable housing tax credits; and
Whereas, Gorman has submitted unsolicited offers to purchase a mix of single-family and duplex homes for up to 54 units of scattered site housing for renovation as affordable housing, which also is outlined in said Land Disposition Report; and
Whereas, Section 304-49-7, Milwaukee Code of Ordinances, allows the City to accept unsolicited offers to purchase property when the ...
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