Stories indexed with the term ‘land sale proceeds’

The Ann Arbor city council is expected to consider a resolution at its April 7, 2014 meeting that would direct the city administrator to allocate half the proceeds from a possible upcoming real estate sale to support affordable housing. The land in question is the surface of the Library Lane underground parking structure, which completed construction in the summer of 2012. [.pdf of draft resolution on Library Lot sale]

The Library Lane parking deck is highlighted in yellow. The name “Library Lane” is based only on the proximity of the structure to the downtown location of the Ann Arbor District Library. The library does not … [Full Story]

Almost $1.4 million will be deposited into the city of Ann Arbor’s affordable housing trust fund as a result of city council action taken on Dec. 16, 2013. The council’s vote was unanimous, although Jane Lumm (Ward 2) offered an amendment to cut that amount in half, which failed on a 2-9 vote. Jack Eaton (Ward 4) joined Lumm in supporting that failed amendment.

The dollar figure of $1,384,300 million reflects the $1.75 … [Full Story]

The board of the Ann Arbor Downtown Development Authority has voted to waive any claim to a reimbursement of about $1.4 million it might have had coming from the net proceeds of the pending sale of the city-owned property known as the former Y lot. The property is located on William Street between Fourth and Fifth avenues downtown.

Waiver of that claim could lead to the transfer of the money to the city of Ann Arbor’s affordable housing trust fund, under a policy established by the Ann Arbor city council a year ago. The DDA board’s action came at its Dec. 4, 2013 meeting. [.pdf of unamended Dec. 4, 2013 draft DDA resolution on Y lot proceeds]

The DDA board resolution also … [Full Story]

The city of Ann Arbor’s affordable housing trust fund has been increased by $90,000, through a transfer from the general fund reserve. The action was taken at the Nov. 8, 2012 meeting of the Ann Arbor city council on a unanimous vote.

The amount of the transfer was keyed to the cost of a piece of city-owned property that the city sold recently to the Ann Arbor Transportation Authority. And the justification for the transfer was based on the council’s recent enactment of a formal policy on the use of the proceeds of city-owned land sales.

The $90,000 piece of land is a six-foot-wide strip on the former Y lot at Fifth and William, immediately to the south of the location for the … [Full Story]

A proposed 10-person citizen committee to study options for proceeds of the sale of city-owned downtown Ann Arbor properties was tabled by the city council at its Oct. 1, 2012 meeting. The resolution’s sponsor, Mike Anglin (Ward 5), moved for the resolution’s tabling in light of many other concurrent conversations among several groups in the city.

The resolution had been added by Anglin to the agenda of the council’s previous meeting on Sept. 17, 2012, but was postponed until the Oct. 1 meeting. Anglin’s resolution called for establishing a committee of 10 residents – two from each ward, to be selected by councilmembers from each ward – plus other city officials to address the issue of city-owned parcels in downtown Ann Arbor.

Anglin’s resolution … [Full Story]