Number
180586
Version
ORIGINAL
Reference
090272, 091466
Sponsor
ALD. STAMPER
Title
Resolution approving the acquisition of ten vacant parcels owned by the Milwaukee Neighborhood Reclamation Company, LLC, in the 15th Aldermanic District.
Analysis
This resolution approves a Land Disposition Report and the City’s acquisition of ten vacant parcels owned by the Milwaukee Neighborhood Reclamation Company, LLC.
Body
Whereas, The Department of City Development (“DCD”) informed the Community Development Grants Administration of the approval from the Neighborhood Improvement Development Corporation (“NIDC”) board on June 10, 2009 of the creation of the Milwaukee Neighborhood Reclamation Company, LLC (“MNRC”); and
Whereas, The Common Council adopted File No. 091466 on March 24, 2010, that authorized the transfer of the U.S. Department of Housing and Urban Development (“HUD”) Neighborhood Stabilization Program (“NSP”) funding from DCD to MNRC for MNRC to carry out land bank activity under the City of Milwaukee’s (“City”) NSP; and
Whereas, With the assistance of NIDC and MNRC, the City successfully implemented three rounds of NSP funding totaling more than $30 million of NSP investment for the redevelopment of over 1,400 units of housing in Milwaukee neighborhoods; and
Whereas, Using NSP funding, MNRC acquired approximately 75 foreclosed units for redevelopment efforts, including homebuyer acquisition, developer acquisition/rehab and targeted demolition/blight elimination; and
Whereas, MNRC owns ten vacant lots, as described in the Land Disposition Report, which have achieved the proposed disposition strategy of demolition/blight elimination; and
Whereas, HUD is requiring NSP grant recipients to close out remaining NSP grant projects; and
Whereas, DCD, on behalf of the City, currently manages, maintains and disposes of vacant lots under City ownership; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition ...
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