committeesub
[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 231038
title
Sponsor: Mayor Quinton Lucas
Committee Substitute
Authorizing the City Manager to negotiate and execute an agreement with the Department of Housing and Urban Development for the acquisition, sale, and development of property referred to as Parade Park Homes; authorizing the City Manager to accept deeds, without warranties or covenants of title, from the Department of Housing and Urban Development for the same; authorizing the City Manager to negotiate and execute sale and development agreements with Flaherty & Collins Properties or an affiliated entity for the sale and redevelopment of such parcels; and authorizing the City Manager to execute a deed and related documents to complete the transfer of the real property while reserving easements, as necessary, for any existing or planned City owned sewer, storm water, and water line infrastructure on said property, subject to the terms of the executed development agreement.
body
WHEREAS, the Secretary of the Department of Housing and Urban Development ("HUD") is prepared to foreclose upon the properties known as Parade Park Homes, generally located at 1701 Woodland Avenue, 1501 Woodland Avenue, 1801 E. 15th Terrace, 1560 Garfield Avenue, 1519 Garfield Avenue, 2020 E 17th Street, 1756 Michigan Avenue, and 1727 Michigan Avenue in March of 2024; and
WHEREAS, HUD has requested assistance from the City in selecting a developer for Parade Park Homes; and
WHEREAS, the City issued a Request for Proposals on October 27, 2023, soliciting proposals for the purchase and development of Parade Park Homes, and received four submissions; and
WHEREAS, the City's selection committee recommended the project submitted by Flaherty & Collins Properties ("Developer"); and
WHEREAS, the City's acquisition and subsequent transfer is contingent upon HUD's acquisition of Parade Park Homes by way of foreclosure sale; and
WHEREAS, due...
Click here for full text