Number
111212
Version
ORIGINAL
Reference
Sponsor
ALD. COGGS
Title
Resolution approving the Land Disposition Report conveying a building site at Center and Buffum Streets to Heartland Housing, Inc. for supportive housing development, in the 6th Aldermanic District.
Analysis
This resolution will permit the Redevelopment Authority to convey said land according to the conditions in the Land Disposition Report.
Body
Whereas, Heartland Housing, Inc. has offered to purchase the properties at 320 to 328 East Center Street and 2721 to 2733 North Buffum Street from the Redevelopment Authority of the City of Milwaukee ("Authority") for development of supportive housing; and
Whereas, On December 15, 2011, the Authority held a Public Hearing on the proposed conveyance as required by Wisconsin Statutes; and
Whereas, Pursuant to Wisconsin Statutes and as a condition precedent to the sale, lease or transfer of land, the Authority submits a Land Disposition Report, a copy of which is attached to this Common Council File, describing the terms and conditions of the proposed sale; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report dated December 15, 2011, with respect to the proposed sale of the following properties is approved.
REDEVELOPMENT PROJECT AREA
Blight Elimination, Center and Buffum
PARCEL ADDRESSES
320 East Center Street, 326 East Center Street, 328 East Center Street, 2721 North Buffum Street, 2725 North Buffum Street and 2731-33 North Buffum Street
REDEVELOPER
Heartland Housing Inc.
; and, be it
Further Resolved, That the net proceeds from the sale shall be returned to the Community Development Grants Administration and the Reserve For Tax Deficit Fund, less all sale and marketing expenses and a 30 percent development fee to be paid to the Authority.
Drafter
DCD/Redevelopment Authority
YSL:ysl
12/20/11/A