Number
211512
Version
SUBSTITUTE 1
Reference
170332
Sponsor
ALD. COGGS
Title
Substitute resolution authorizing the sale of tax-deed property located at 322-40 West Meinecke Avenue, in the 6th Aldermanic District.
Analysis
This substitute resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Sections 304-49-5 and 304-49-8, Milwaukee Code of Ordinances, and the extension of a City Art and Resource Community Hub (ARCH) Loan to the Buyer.
Body
Whereas, The City of Milwaukee (“City”) acquired 322-40 West Meinecke Avenue (the “Property”) on June 8, 2015 through property tax foreclosure; and
Whereas, During the process of creating the report “Bronzeville Artist Housing” (the “Report”) the City and The University of Wisconsin-Milwaukee School of Architecture and Urban Planning identified the Property as an ideal site for Artist Housing; and
Whereas, Through the Report public outreach and discussion process, HomeWorks: Bronzeville (the “Buyer”) was identified as a potential buyer for the Property; and
Whereas, The neighboring property to the north located at 2406-08 North Vel R. Phillips Avenue is an Artist Housing location where a member of the Buyer team resides; and
Whereas, The Buyer has submitted a proposal to purchase the property and create artist housing at the Property; and
Whereas, Two structures exist on the property, a duplex and a multi-unit property; and
Whereas, The Buyer has done extensive due diligence on the property; and
Whereas, The due diligence performed on the property has led the Buyer to conclude that Buyer must demolish the multi-unit structure on the western portion of the property; and
Whereas, The Buyer has agreed to demolish the multi-unit structure on the west end of the property at Buyer’s sole expense and according to all City ordinances and requirements within six months of purchasing the property; and
Whereas, The Buyer has agreed to reno...
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