Number
131276
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. COGGS
Title
Substitute resolution authorizing the sale of City-owned scattered site houses to the Housing Authority of the City of Milwaukee for development of scattered site, affordable housing, in the 6th, 7th and 15th Aldermanic Districts.
Analysis
This substitute resolution authorizes the sale of multiple Neighborhood Properties according to the conditions in a Land Disposition Report pursuant to Section 304-49-7, Milwaukee Code of Ordinances.
Body
Whereas, The Housing Authority of the City of Milwaukee (“HACM”) has submitted an unsolicited offer to purchase a mix of single-family and duplex houses for up to 100 units of scattered site housing for renovation as low-income family housing as summarized in a Land Disposition Report and a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-7 of the Milwaukee Code of Ordinances allows the City of Milwaukee (“City”) to accept unsolicited offers to purchase property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The Department of City Development (“DCD”) has reviewed HACM’s offer and has determined that the proposed price represents fair compensation to the City considering the investment in neighborhoods and the provision of affordable housing; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Commissioner of DCD, or designee, is authorized to accept the unsolicited offer to purchase submitted by HACM for City-owned Neighborhood Properties for renovation as low-income family housing as outlined in the Land Disposition Report; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to release any deed restrictions that inhibit development, execute required legal documents on behalf of the City and to close the transaction according to the terms of the Land Disposition Report; and, be it
Further Resolved...
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