Number
241621
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing settlement of claims in the lawsuits entitled Fulcrum 250 East, LLC v. City of Milwaukee.
Analysis
This resolution authorizes settlement of claims raised by Plaintiff, Fulcrum 250 East, LLC, in the lawsuits entitled Fulcrum 250 East, LLC v. City of Milwaukee, Milwaukee County Case No. 2023CV003769 and 2024CV004620, for the total amount of $13,310.54.
Body
Whereas, Plaintiff filed a lawsuit against the City entitled Fulcrum 250 East, LLC v. City of Milwaukee, Milwaukee County Case No. 2023CV003769, for the partial refund of property tax previously paid, which includes claims that the 2020-2022 property tax assessments for its office building at 250 East Wisconsin Ave., Unit 1, in the City of Milwaukee (the “Property”), was excessive; and
Whereas, Plaintiff filed a lawsuit against the City entitled Fulcrum 250 East, LLC v. City of Milwaukee, Milwaukee County Case No. 2024CV004620, for the partial refund of property tax previously paid, which includes claims that the 2023 property tax assessment for the Property was excessive; and
Whereas, Plaintiff has similar objections to the 2024 assessment of the Property and further litigation is imminent; and
Whereas, Plaintiff has agreed to settle the claims raised in the above-referenced lawsuit and pending objection for the total amount of $13,310.54, and
Whereas, as part of the parties’ proposed settlement of pending claims the City will adjust the assessment of the Property for 2024 and plaintiff will withdraw the objection for 2024; and
Whereas, the City Attorney recommends that the City of Milwaukee settle these lawsuits and resolve these claims now; now, therefore, be it
Resolved, by the Common Council of the City of Milwaukee, the City Attorney is authorized to enter into a settlement agreement between the City of Milwaukee and the Plaintiff referred to herein and to execute and approve all documents and take all action necessary to carry out the terms and conditions of said agreement; and be it
Further Resolved, that in compliance with the City Attorney’s direction, the proper City officers be and hereby are authorized and directed to issue a City check, as soon as practicable in full and final settlement of the claims referenced above, to be charged to the 2025 Remission of Taxes Special Purpose Account No. 0001-9990-S163-006300, in the sum of $13,310.54, made out to Fulcrum 250 East, LLC, and mailed to plaintiff’s counsel, Shawn Lovell, Reinhart Boerner Van Deuren, sc, 22 East Mifflin Street, Suite 700, Madison, WI 53703, in final settlement of these claims and lawsuits; and be it
Further Resolved, that for and in consideration of the above-referenced payment, the Plaintiff will provide to the City a settlement agreement releasing claims relative to its assessments as well as a stipulation and proposed order to dismiss the claims raised in the pending court actions.
Requestor
City Attorney
Drafter
Hannah R. Jahn
February 5, 2025