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File #: 170641    Version:
Type: Ordinance Status: In Committee
File created: 7/31/2017 In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
On agenda: Final action:
Effective date:    
Title: A substitute ordinance relating to the disposition of city property.
Sponsors: ALD. BAUMAN
Attachments: 1. DCD Response 11-21-17, 2. Hearing Notice List
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
9/18/20182 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HELD TO CALL OF THE CHAIR

Minutes note: Individual appearing: Martha Brown, Dept. of City Development
Pass5:0 Action details Meeting details Video Video
9/12/20182 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/12/20182 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/12/20182 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/12/20182 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/12/20182 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
12/12/20171 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE SUBSTITUTED

Minutes note: Ald. Rainey moved substitution of the file with Proposed Substitute A. (Prevailed 4-0)
Pass4:0 Action details Meeting details Video Video
12/12/20172 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HELD TO CALL OF THE CHAIR

Minutes note: Individuals appearing: Ald. Robert Bauman, 4th Aldermanic District Martha Brown, Dept. of City Development Amy Turim, Dept. of City Development Atty. Heiner Giese, Apartment Association of Southeastern Wisconsin Atty. Gregg Hagopian, Assistant City Attorney
Pass4:0 Action details Meeting details Not available
12/7/20171 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
10/27/20171 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
10/27/20171 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
10/25/20171 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
10/25/20171 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
10/25/20171 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/7/20171 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
7/31/20170 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
170641
Version
SUBSTITUTE 2
Reference

Sponsor
Ald. bauman
Sections
304-49-1-g cr
304-49-1-h cr
304-49-4-c rc
304-49-5-b-1 am
Title
A substitute ordinance relating to the disposition of city property.
Analysis
This ordinance requires that a city-owned neighborhood property be valued using the income capitalization method when conveyed to a buyer who does not intend to make the property the buyer’s primary residence.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:

Part 1. Section 304-49-1-g and h of the code is created to read:

304-49. Disposal of City Real Estate.

1. DEFINITIONS.
g. “Value as investor-owned” means a property’s market value as calculated using an income capitalization method.
h. “Value as owner-occupied” means a property’s market value when factors other than a property’s capacity to generate income and profit are considered. Factors considered shall be benefits reasonably expected to accrue to the city from an increase in the percentage owner-occupied properties, and may include, but are not limited to:
h-1. Increased resident engagement in the wellbeing of the community.
h-2. Improved neighborhood stability.
h-3. Reduced crime.
h-4. Decreased neighborhood blight.

Part 2. Section 304-49-4-c of the code is repealed and created to read:

304-49. Disposal of City Real Estate.

4. CITY SALES OF NEIGHBORHOOD PROPERTY.
c. All conveyances shall be for adequate market consideration, as determined by the commissioner or commissioner's designee, which consideration may recognize and value monetary as well as non-monetary consideration, including, but not limited to, public policy considerations of property and neighborhood stabilization, health, safety and welfare concerns, future improvements to or development or remediation of the parcel, returning the parcel to the tax rolls, and promoting home ownership.
c-1. Each property unit shall be conveyed at its value as investor-owned.
c-2....

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