Number
031726
Version
ORIGINAL
Reference
Sponsor
ALD. HINES
Title
Resolution declaring six vacant, tax-deed lots surplus and authorizing their sale to CityVentures, LLC, for residential construction, in the 15th Aldermanic District. (DCD)
Analysis
This resolution will result in the sale of six vacant, tax-deed lots for residential construction.
Body
Whereas, CityVentures, LLC, has submitted an Offer to Purchase in the amount of $2,000 per lot for the six vacant, tax-deed lots listed below:
ADDRESS, TAX KEY NO.
4210 West Garfield Avenue, #348-0498-X
4214 West Garfield Avenue, #348-0499-5
4226-28 West Garfield Avenue, #348-1301-5
2203-05 North 42nd Street, #348-0497-4
4219 West Garfield Avenue, #348-0504-0
2175-77 North 42nd Street, #348-0501-4
; and
Whereas, CityVentures, LLC, will assemble said lots with parcels purchased from private entities, subdivide at its own expense and construct seven single-family homes for rental to qualified tenants; and
Whereas, The Department of City Development ("DCD") recommends acceptance of said Offer contingent upon final site and building plan approval prior to closing on said lots; and
Whereas, Said lots are to be sold in an "as is" condition without representations or warranties including but not limited to soil quality and subsurface condition; and
Whereas, The City Plan Commission has determined that there is no municipal need for said lots; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that said vacant, tax-deed lots are declared surplus, that the Offer to Purchase from CityVentures, LLC, is accepted and that the proper City officials are authorized and directed to perform such acts as necessary to carry out the intent of this resolution with the proceeds from the sale, less a 20 percent disposition cost reimbursement paid to the Redevelopment Authority of the City of Milwaukee, credited to the Reserve For Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD:SS:ss
04/13/04/B
5/3/04 Tech. correction made (17th Ald. to 15th Ald.) TJM