Number
070743
Version
ORIGINAL
Reference
Sponsor
ALD. BAUMAN
Title
Resolution authorizing an agreement between the City of Milwaukee and West End Development Corporation for assignment of the City’s right to an in-rem foreclosure judgment under s. 75.106, Wis. Stats., against the property at 751 N. 25th St. in the 4th Aldermanic District.
Analysis
This resolution directs that a property tax foreclosure action be commenced against the property at 751 N. 25th St. The resolution further provides that a foreclosure judgment be assigned to the West End Development Corporation so that the property may be remediated, improved and placed in taxpaying ownership.
Body
Whereas, According to City of Milwaukee (“City”) records, the property formerly owned by Angel R. Cabrices and Phoebe Cabrices, and foreclosed upon by Igors Properties LLC, located at 751 N. 25th St., Tax Key 389-1204-000, is tax delinquent for the years 2005 and 2006; and
Whereas, The 3-family residence located at 751 N. 25th St. is currently boarded up and vacant and subject to condemnation and a razing order; and
Whereas, The order to raze the residential property at 751 N. 25th St. has been placed on hold due to the possibility of remediation, improvement and return of the property to taxpaying ownership; and
Whereas, The property at 751 N. 25th St. has been inspected for asbestos by a Wisconsin-licensed inspector who has determined that areas of the property are contaminated with asbestos; and
Whereas, The property at 751 N. 25th St. is an abandoned, idle or underused residential facility or site, the redevelopment of which is adversely affected by actual or perceived environmental contamination within the meaning of
s. 75.106(1)(a), Wis. Stats.; and
Whereas, Notwithstanding the fact that an “Internal Protocol/Questionnaire for Community Improvement In-Rem Foreclosure Actions” has not been completed in accord with the resolution at Common Council File No. 030680, the health safety and welfare of the public and the best interests of the neighborhood require prompt action to remediate and improve the property at 751 N. 25th St.; and
Whereas, At the current rate of deterioration, it is unlikely that the property can be rehabilitated and returned to the tax rolls as an owner-occupied residence unless prompt action is taken; and
Whereas, West End Development Corporation is a Community Development Block Grant funded organization experienced in the remediation, rehabilitation and redevelopment of residential properties and has recently acquired a residential property for such purposes within one block of the property at 751 N. 25th St.; and
Whereas, West End Development Corporation wishes to enter into a “Section 75.106 In-Rem Assignment Contract” (75.106 Contract) and to accept assignment of the City’s right to an in-rem foreclosure judgment in exchange for payment for the assignment as adjusted by remediation expenses approved by the Department of City Development and adjusted for the costs of testing and remediating the property to the extent required by the State of Wisconsin, and payment of tax-roll amounts remaining due; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Department of City Development, Real Estate staff, and the Office of the City Attorney are directed to negotiate an agreement for a 75.106 Contract between the City and West End Development Corporation consistent with the terms and conditions outlined herein; and, be it
Further Resolved, That the proper City officials are authorized to execute a negotiated 75.106 Contract and take all actions required or contemplated thereunder; and, be it
Further Resolved, That the City Treasurer and City Attorney shall prosecute a s. 75.521 in-rem foreclosure action against the property at 751 N. 25th St. so that judgment may be assigned to West End Development Corporation; and, be it
Further Resolved, That the City Treasurer and City Attorney shall waive all costs of foreclosure as receivables in connection with the assignment of foreclosure judgment contemplated herein.
Requestor
Drafter
LRB07474-2
RLW
9/4/2007