Number
191894
Version
ORIGINAL
Reference
Sponsor
ALD. STAMPER, RAINEY, BAUMAN AND COGGS
Title
Resolution selecting developers and authorizing $1 and discounted property sales and housing rehabilitation grants through the Milwaukee Employment Renovation Initiative 2.0.
Analysis
This resolution authorizes the Department of City Development to implement the Milwaukee Employment Renovation Initiative 2.0 by (1) selling City-owned foreclosed properties for $1 per property or for a discounted purchase price(with a targeted sales goal of 100 properties) to 11 buyers selected through a Request for Qualification process, and (2) entering into sales and development agreements with those buyers, using funds within the Department of City Development’s Strong Neighborhoods Capital Fund Account.
Body
Whereas, In 2019, work was completed on the Milwaukee Employment Renovation Initiative (“MERI”), which resulted in the redevelopment of more than 100 City-owned tax foreclosed properties and created job opportunities for City of Milwaukee residents; and
Whereas, Building on the success of the program, the Department of City Development (“DCD”) issued a Request for Qualifications for the Milwaukee Employment Renovation Initiative 2.0 (“MERI 2.0”) in October 2019; and
Whereas, DCD received 19 responsive applications, which were evaluated by a four-person panel; and
Whereas, Based on the evaluation of these applications, DCD recommends that the 11 top-scoring applicants listed in Exhibit A, a copy of which is attached to this Common Council file, be selected to participate in MERI 2.0; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the developers/teams (“buyers”) listed in Exhibit A are authorized to participate in MERI 2.0; and, be it
Further Resolved, That the selected buyers may purchase tax-foreclosed properties they select for discounted purchase prices, including $1.00 sales; and, be it
Further Resolved, That the sele...
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