Number
R_12726
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving an offer by Gay Htoo to purchase the home located at 4241 North 71st Street for $75,000
Analysis
This is a 2-bedroom single-family home located in the 2nd Aldermanic district. This property is being sold under the Section 32 Homeownership program to Gay Htoo, who is an eligible buyer.
Body
WHEREAS, The Housing Authority of the City of Milwaukee owns and manages approximately 3,560 units of low-rent public housing under the terms of an Annual Contributions Contract with the U.S. Department of Housing and Urban Development (HUD); and
WHEREAS, the Housing Authority of the City of Milwaukee (HACM) promotes self-sufficiency and homeownership opportunities; and
WHEREAS, the Housing Authority has approval from HUD to administer a Section 32 Homeownership Program; and
WHEREAS, the property at 4241 North 71st Street is a 2 bedroom single-family home located in the 2nd Aldermanic District. This property was acquired and rehabbed under the Section 32 Program and is being sold to an eligible homebuyer; and
WHEREAS, the Secretary-Executive Director recommends that the offer from Gay Htoo to purchase 4241 North 71st Street in the amount of $75,000 be accepted; and
RESOLVED, by the Housing Authority of the City of Milwaukee that the offer from Gay Htoo, to purchase 4241 North 71st Street in the amount of $75,000 is hereby accepted; and, be it
FURTHER RESOLVED, that the Secretary-Executive Director is hereby authorized to take whatever action is necessary to complete the sale of this property.
Requestor
Jim Eigenberger
Drafter
Jeanne Dawson, Homeownership
October 29, 2015