Number
200600
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. LEWIS, ALD. STAMPER, ALD. COGGS AND ALD. JOHNSON
Title
Substitute resolution approving a Land Disposition Report to sell two City-owned homes to Community Advocates, Inc. and City expenditure of $17,724 in the form of forgivable loans to be used by the buyer toward rehab costs so that the homes may be used as emergency housing, in the 2nd and 9th Aldermanic Districts.
Analysis
This substitute resolution approves a Land Disposition Report and authorizes City sale to Community Advocates, Inc., a non-profit purchaser, of two City-owned homes, and City expenditure of $17,724 in the form of forgivable loans to be used by the buyer toward rehab costs of 5032 North 85th Street in the 2nd Aldermanic District and 5600 West Thurston Avenue in the 9th Aldermanic District, so that the homes may be used as emergency housing.
Body
Whereas, The Common Council of the City of Milwaukee (“Common Council”) set aside $300,000 in funding in the 2020 City budget to be used for, among other things, emergency housing assistance; and
Whereas, The Department of City Development (“DCD”) negotiated with Community Advocates, Inc. (“CA”), a non-profit entity, concerning CA’s desire to buy from the City 5032 North 85th Street in the 2nd Aldermanic District and 5600 West Thurston Avenue in the 9th Aldermanic District, for CA to rehab those homes and then lease them to persons in need of emergency housing; and
Whereas, DCD prepared the Land Disposition Report (“LDR”) that is part of this Common Council file concerning those parcels and sale terms and conditions, and the LDR provides for a $9,874 forgivable loan to CA to rehab the 85th Street house and a $7,850 forgivable loan to CA to rehab the Thurston Avenue house; and
Whereas, The loans would be funded from the monies set aside for emergency housing assistance as specified in the fiscal note accompanying this Common Council file; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the LDR submitted to this Common Council file is hereby approved, and the appropriate City officers and employees are authorized to enter into a Purchase and Sale Agreement with CA in substantial conformity with the LDR and to make the loan funds available to CA in substantial conformity with the LDR, and to undertake such acts as are required by the City thereunder or in furtherance hereof.
Drafter
DCD:Amy.Turim:at
09/09/20