Number
021265
Version
ORIGINAL
Reference
010623
Sponsor
THE CHAIR
Title
Resolution amending the disposition of the surplus, improved, tax-deed property at 3251 North 25th Street, in the 10th Aldermanic District. (DCD-Real Estate)
Analysis
This resolution amends the disposition of said property by directing that it be sold to a nonprofit organization for affordable housing purposes.
Body
Whereas, Common Council File No. 010623, adopted on September 25, 2001, declared surplus and directed that the Department of City Development sell 3251 North 25th Street via the open listing method; and
Whereas, ACTS Community Development Corporation, a nonprofit organization, has offered to purchase said property for $750 for affordable housing purposes; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the Department of City Development is authorized and directed to sell the surplus, improved, tax-deed property at 3251 North 25th Street, Tax Key No. 285-0749-000-1, to ACTS Community Development Corporation at a fixed price of $750; and, be it
Further Resolved, That the proper City officials are authorized and directed to perform such acts as may be required to consummate the sale of said property and that the proceeds, less a 15 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee, be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106; and, be it
Further Resolved, That as a condition of the sale of surplus property, purchaser is required to bring property into compliance with applicable building codes within the time specified by the Department of Neighborhood Services or property may revert to the ownership of the City of Milwaukee upon action by the Common Council; and, be it
Further Resolved, That in the event that the buyer is unable to purchase said property, disposition will automatically revert to sale via the open listing method without further action by the Common Council.
Drafter
DCD-Real Estate
KT:kt
12/20/02/B