City of Milwaukee - File #: 200961

• File #: 200961
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 11/4/2020
• In control: COMMON COUNCIL
• Final action: 11/24/2020
• Title: Substitute resolution approving the sale of property to Maures Development Group LLC, or assigns.
• Sponsors: ALD. COGGS, ALD. PEREZ
• Indexes: CITY PROPERTY, HOUSING

Date	Ver.	Action By	Action	Result	Tally
12/2/2020	1	MAYOR	SIGNED
11/24/2020	1	COMMON COUNCIL	ADOPTED	Pass	15:0
11/17/2020	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Amy Turim, Dept. of City Development Melissa Allen, Maures Development Group Ald. Perez added as a cosponsor.	Pass	5:0
11/10/2020	1	CITY CLERK	DRAFT SUBMITTED
11/4/2020	0	COMMON COUNCIL	ASSIGNED TO

Number
200961
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. COGGS AND PEREZ
Title
Substitute resolution approving the sale of property to Maures Development Group LLC, or assigns.
Analysis
This substitute resolution authorizes the sale of approximately 24 City-owned, tax-foreclosed properties, in the 6th Aldermanic District.
Body
Whereas, The City of Milwaukee ("City") has an inventory of tax-deed properties that are suitable for rehabilitation or new construction as affordable housing using Low Income Housing Tax Credits ("LIHTC") that are allocated by the Wisconsin Housing and Economic Development Authority ("WHEDA"); and

Whereas, Maures Development Group LLC or assignee (“Developer”) desires to complement nearby developments in the 6th Aldermanic District by submitting an application for LIHTC; and

Whereas, Developer has requested to purchase both improved and vacant lot scattered site residential properties for renovation and new construction as affordable housing as outlined in a Land Disposition Report (“LDR”), a copy of which is attached to this Common Council File; and

Whereas, Developer has identified most of the properties required to create a competitive LIHTC application and will continue to identify properties that are acceptable both to the Developer and to the local alderperson, as well as the Department of City Development (“DCD”); and

Whereas, Section 304-49-8, Milwaukee Code of Ordinances, allows the City to negotiate property sales when the City receives fair compensation, whether monetary or non-monetary; and

Whereas, DCD has determined that the terms indicated in the LDR represent fair compensation to the City in terms of the purchase price, investment in City neighborhoods and provision of affordable housing; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that DCD is directed to enter into a Purchase and Sale Agreement with Developer consistent with the LDR, with the understanding that additio...