Number
221930
Version
ORIGINAL
Reference
211516
Sponsor
ALD. COGGS and ALD. STAMPER
Title
Resolution approving a Land Disposition Report and authorizing the sale of two city-owned tax foreclosed neighborhood properties located at 2744 North 24th Street and 3342 North 12th Street, and authorizing a City expenditure in the form of a forgivable loan, in the 6th and 15th Aldermanic Districts.
Analysis
This resolution approves a Land Disposition Report and authorizes the sale of two City-owned properties to Community Advocates, Inc., a non-profit purchaser, and City expenditure of $10,000 in the form of a forgivable loan to be used by the buyer toward rehab costs at 2744 North 24th Street in the 15th Aldermanic District and 3342 North 12th Street in the 6th Aldermanic District, so that the home may be used as needed for 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 a property at 2744 North 24th Street in the 15th Aldermanic District; and
Whereas, The Common Council previously approved CA to purchase a property at 3342 North 12th Street in the 6th Aldermanic District under file number 211516; and
Whereas, CA would like to close on the sale of 3342 North 12th Street and 2744 North 24th Street together (the “Properties”) for CA to update the Properties and then lease to persons in need of emergency housing as needed; and
Whereas, DCD prepared the Land Disposition Report (“LDR”) that is part of this Common Council file concerning the Properties and sale terms and conditions, and the LDR provides for a $10,000 forgivable loan to CA to update the Properties; and
Whereas, The forgivable loan 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 accept an Offer to Purchase or enter into a Purchase and Sale and Grant Agreement with CA; and, be it
Further Resolved, DCD is authorized to negotiate and execute a sale agreement 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
04/18/23/A