Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Disposition topic
No spam. Unsubscribe anytime.
HACM board approves disposition applications to sell two vacant single-family properties at appraised market value
Summary
The Housing Authority approved submitting HUD disposition applications to sell two vacant scattered-site houses — 1302 S. 20th St. appraised at $104,000 and 4331 N. 60th St. appraised at $66,000 — after staff said repair estimates exceeded roughly $100,000 and neighborhood nonprofits declined a rehab-for-dollar offer.
The Housing Authority of the City of Milwaukee voted to submit disposition applications to HUD seeking approval to sell two vacant scattered-site single-family houses at their appraised fair-market values.
Jeanne Dawson, HACM staff, told commissioners the properties — 1302 South 20th Street (appraised $104,000) and 4331 North 60th Street (appraised $66,000) — were vacated because they were deemed uninhabitable and that repair estimates exceed about $100,000 for each house. HACM had previously offered the 60th Street property to both the city’s housing division and Habitat for Humanity for $1 on condition they rehab it and lease to an income-eligible household; both organizations declined, Dawson said.
Dawson said HUD requires a sale at the appraised value and that HACM cannot accept offers below the appraisal. She added HUD appraisals remain valid for one year; if no buyer pays the appraised price, HACM would not be allowed to reduce the sale price during that period and, if the property remains unsold, HACM may have to tear it down.
Commissioners discussed outreach to neighborhood alder offices and nonprofit developers to advertise the properties; one commissioner suggested notifying neighborhood associations and the Milwaukee Community Land Trust and extending outreach to local CDCs. HACM staff said they are members of MLS and can list properties there and can also advertise on HACM’s website and social media. Offers to purchase would be brought to the board for acceptance or rejection.
The Resident Advisory Board reviewed the items and, according to staff, recommended submission to HUD by a wide margin (reported as 14 to 1) during its review.
The board approved submission of the disposition application by roll call vote: Chair Hazlett, Vice Chair Gotzler, Commissioner Moore, Commissioner Burrell, Commissioner Pez Clasen and Commissioner Nelson voted yes.
