Number
260534
Version
ORIGINAL
Reference
Sponsor
ALD. COGGS
Title
Resolution approving a Land Disposition Report and authorizing the sale of two City-owned tax deed properties at 1421 West Atkinson Avenue and 1429 West Atkinson Avenue, in the 6th Aldermanic District.
Analysis
This resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-3-b-1 and 304-49-6, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee (“City”) acquired 1421 West Atkinson Avenue on July 28, 2025 and 1429 West Atkinson Avenue on September 26, 2025 (the “Properties”), through property tax foreclosure; and
Whereas, The Department of City Development (“DCD”) advertised the Properties for sale on its website and through MLS; and
Whereas, DCD accepted offers through a Request for Proposals (“RFP”), assembled an evaluation team to evaluate the proposals and recommended the sale to Badger Management, LLC (the “Buyer”), or its assignee, to acquire and redevelop the Properties as summarized in a Land Disposition Report (“LDR”) and a Due Diligence Checklist (“DDC”), copies of which are attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the LDR and DDC are approved and that DCD is authorized to enter into a Purchase and Sale Agreement (“PASA”) with the Buyer, or assignee, materially consistent with the LDR and then convey the properties to the Buyer, or assignee, in accordance therewith; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign the PASA, deed and requisite closing documents and to close the transaction and to take such actions as may be needed to effectuate the terms of the LDR and this resolution; and, be it
Further Resolved, That at closing, subtracted from the sale proceeds and retained by the City of Milwaukee will be the amount of property taxes, interest, and fees owed; and all costs and expenses incurred. Retained funds will be distributed between the Redevelopment Authority of the City of Milwaukee and the City’s Tax Deficit Fund, with the balance of the proceeds, if any, to be returned to the former owner.
Drafter
DCD:Dwayne.Edwards:dke
07/31/26/A