Number
151039
Version
ORIGINAL
Reference
Sponsor
ALD. WADE
Title
Resolution authorizing the sale of City-owned scattered site houses and vacant lots to Gorman & Company, Inc. for rehabilitation and new construction of affordable housing, in the 7th Aldermanic District.
Analysis
This resolution authorizes the sale of Neighborhood Properties and Neighborhood vacant lots 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”) has an inventory of tax-deed single-family and duplex houses and vacant lots that are suitable for rehabilitation and new construction as affordable housing using Federal Low Income Housing Tax Credits (“LIHTC”) that are allocated annually by the Wisconsin Housing and Economic Development Authority (“WHEDA”); and
Whereas, The Department of City Development (“DCD”) has identified houses and vacant lots throughout the City that are suitable for rehabilitation and single-family new construction using LIHTC, due to their proximity to other housing revitalization efforts; and
Whereas, Gorman & Company, Inc. (“Gorman”) has submitted an unsolicited offer to purchase a mix of single-family and duplex houses and vacant lots for up to 40 units of scattered site housing for renovation and new construction as affordable housing as outlined in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-7, Milwaukee Code of Ordinances, allows the City to accept unsolicited offers to purchase property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, DCD has reviewed the offer and has determined that the proposal represents fair compensation to the City in terms of the purchase price, investment in City neighborhoods and provision of affordable housing; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Commiss...
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