Number
120891
Version
ORIGINAL
Reference
Sponsor
ALD. WADE
Title
Resolution accepting donation of the vacant lot at 2958 North 22nd Street from Wells Fargo Bank, N.A., as agent for HSBC Bank USA, N.A., in the 7th Aldermanic District.
Analysis
This resolution authorizes the City of Milwaukee to accept the donation of a privately owned property.
Body
Whereas, Wells Fargo Bank, N.A., is the authorized agent for HSBC Bank USA, N.A., which acquired a single-family house at 2958 North 22nd Street through mortgage foreclosure in March 2012; and
Whereas, At the time of foreclosure, the property had extensive building code violations and was under an order from the Department of Neighborhood Services to either make the property code compliant or raze the structures; and
Whereas, Wells Fargo Bank, N.A., arranged for demolition of the house and garage and has offered to donate the vacant lot to the City of Milwaukee ("City"); and
Whereas, The Wells Fargo lot adjoins a City-owned vacant lot and when joined, would be suitable for infill housing; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City is authorized to accept the donation of the vacant lot at 2958 North 22nd Street from Wells Fargo Bank, N.A.; and, be it
Further Resolved, That the Commissioner of the Department of City Development, or designee, is authorized to execute a Donation Agreement with Wells Fargo Bank, N.A., as agent for HSBC Bank USA, N.A., to accept the deed and to execute other documents necessary to acquire clear title to the property.
Drafter
DCD-Real Estate
EMM:bmm
10/16/12/A