Number
081370
Version
ORIGINAL
Reference
Sponsor
ALD. WADE
Title
Resolution authorizing the sale of the City-owned vacant lot at 2702-14 North 26th Street to United Christian Church for development of United House, Phase II, an affordable senior and workforce housing initiative, in the 7th Aldermanic District.
Analysis
This resolution authorizes the sale of City-owned Neighborhood Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-7, Milwaukee Code of Ordinances.
Body
Whereas, United Christian Church, in conjunction with Cardinal Capital Management, Inc., has proposed to develop a senior and workforce housing facility to complement United House, a supportive housing facility at 2500 West Center Street; and
Whereas, United Christian Church has submitted an unsolicited offer to purchase the City-owned vacant lot at 2702-14 North 26th Street to create a building site for United House, Phase II, as summarized in a Land Disposition Report, 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 the offer and the development proposal and has determined that the proposed price and redevelopment represents fair compensation to the City considering the investment in the neighborhood and provision of affordable senior and workforce 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 United Christian Church, or assigns, for the City-owned vacant lot at 2702-14 North 26th Street for development of United House, Phase II, 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, That in the event the City acquires additional lots in United Christian Church’s target area, the lots may be added or substituted with authorized properties without further action of the Common Council upon recommendation and approval of the Commissioner of DCD and notice to the local alderman; and, be it
Further Resolved, That the sale proceeds, less sale expenses and a 30 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee, shall be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD/Real Estate
EMM:bmm
01/16/09/C