City of Milwaukee - File #: 180932

• File #: 180932
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 9/25/2018
• In control: COMMON COUNCIL
• Final action: 10/16/2018
• Title: Resolution amending the purchase terms and conditions regarding the sale of the surplus Milwaukee Public Schools property at 1715 North 37th Street, in the 15th Aldermanic District.
• Sponsors: ALD. STAMPER
• Indexes: SCHOOL BUILDINGS

Date	Ver.	Action By	Action	Result	Tally
10/25/2018	0	MAYOR	SIGNED
10/16/2018	0	COMMON COUNCIL	ADOPTED	Pass	13:0
10/9/2018	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Martha Brown, Dept. of City Development Matthew Melendes, Heartland Housing Inc. Rafael Garcia, Community First Mark Cruz, Heartland Housing Inc. Individual testifying in support: Benjamin Beduhn, UW-Madison student	Pass	5:0
10/4/2018	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/4/2018	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/25/2018	0	COMMON COUNCIL	ASSIGNED TO

Number
180932
Version
ORIGINAL
Reference
171029
Sponsor
ALD. STAMPER
Title
Resolution amending the purchase terms and conditions regarding the sale of the surplus Milwaukee Public Schools property at 1715 North 37th Street, in the 15th Aldermanic District.
Analysis
This resolution amends the terms and conditions of the sale of the former 37th Street Elementary School, 1715 North 37th Street, to Heartland Alliance Housing for redevelopment as multi-family housing.
Body
Whereas, The 37th Street Elementary School, 1715 North 37th Street (the “Property”), was declared surplus by the Milwaukee Board of School Directors in 2015; and

Whereas, Common Council File No. 171029 authorized the sale of the Property to Heartland Alliance Housing (the “Developer”); and

Whereas, The Purchase Terms and Conditions (“Terms”) included in the Land Disposition Report (“LDR”) attached to File No. 171029 required the Developer to apply for Low Income Housing Tax Credit (“LIHTC”) financing in 2017 and enter into a Purchase and Sale Agreement (“PASA”) by April 1, 2018; and

Whereas, After analysis of project costs by the Developer indicated that the project would not be competitive during the 2017 LIHTC allocation round, the Developer chose not to submit an application for LIHTC financing and subsequently did not enter into a PASA by April 1, 2018; and

Whereas, Despite not entering into a PASA, the Developer has continued to work on the project, obtaining Part I approval for Historic Tax Credit financing as well as rezoning of the Property to permit multi-family development; and

Whereas, The Developer has modified the project to reduce costs by eliminating plans for new townhouse construction at the Property; and

Whereas, The Developer intends to apply for LIHTC financing in the 2018 allocation round; and

Whereas, The Developer’s plan to redevelop the Property as 49 affordable apartments for seniors addresses a documented need for quality housing units for low-income house...