Number
101136
Version
ORIGINAL
Reference
021196
Sponsor
ALD. COGGS
Title
Resolution authorizing sale of Redevelopment Authority owned property to the Martin Luther King Economic Development Corporation for the King Commons IV affordable housing effort, in the 6th Aldermanic District.
Analysis
This resolution will permit the Redevelopment Authority to convey land according to the conditions in a Land Disposition Report.
Body
Whereas, Since 2002, as authorized by adoption of Common Council File No. 021196, the Martin Luther King Economic Development Corporation (“MLKEDC”) has developed three phases of King Commons, a mix of commercial and affordable residential developments in the area bounded by North 1st Street, West Center Street, North 7th Street and West Locust Street; and
Whereas, MLKEDC desires to undertake King Commons Phase IV consisting of approximately 40 units of scattered site affordable housing and has offered to purchase property in its target area as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, The vacant lots and improved property in the target area are owned by the Redevelopment Authority of the City of Milwaukee (“Authority”) or are City-owned properties that have been authorized for transfer to the Authority as part of authorization of the prior phases of the King Commons project; and
Whereas, On January 13, 2011, the Authority held a Public Hearing on the proposed conveyance as required by Wisconsin Statutes; and
Whereas, Pursuant to Wisconsin Statutes and as a condition precedent to the sale, lease or transfer of land, the Authority submits herewith a Land Disposition Report describing the terms and conditions of the proposed sale; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report dated January 13, 2011, with respect to the proposed sale of property in the Redevelopment Project Area is approved.
REDE...
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