SUBSTITUTE - Authorizing the negotiation and execution of a Purchase and Sale Agreement between Eminent Development Corporation and/or an affiliate LLC (“Developer”) and the City of Madison for the Developer’s acquisition of the property located at 1202 S. Park Street for youth-centered housing development (the “Project”), and authorizing execution of a loan agreement for up to $2.0 million of American Rescue Plan Act funds allocated by the Common Council for the Project. (District 13)

What this record is

Held by

Eminent Development Corporation

Amount

$2.00M

Runs until

no end date published in this record

Type

purchase

Field

Health & social

Read automatically from the title of the official record. The source document below is authoritative.

Committee

COMMUNITY DEVELOPMENT BLOCK GRANT COMMITTEE

Requested by

FINANCE COMMITTEE

Introduced

January 2, 2024

On agenda

January 23, 2024

Passed

January 23, 2024

Enacted

January 23, 2024

Enactment no.

RES-24-00029

Where it was heard

COMMON COUNCIL Jan 23, 2024 Adopt Unanimously Pass FINANCE COMMITTEE Jan 16, 2024 Return to Lead with the Recommendation for Approval Pass COMMUNITY DEVELOPMENT BLOCK GRANT COMMITTEE Jan 11, 2024 RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER Pass COMMON COUNCIL Jan 9, 2024 Refer Pass