NUMB:
990309
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution declaring as surplus a 150,656 square foot tax deed parcel located at 9704 West Darnel Avenue and authorizing the Department of City Development to subdivide the parcel and market the lots for construction of owner-occupied residential homes in the 15th Aldermanic District. (DCD-Real Estate)
ANLS:
- Analysis -
This resolution declares tax deed land surplus and authorizes the disposition of it for new home construction.
BODY:
Whereas, The Department of City Development ("DCD") has received numerous inquiries regarding purchase of tax deed land at 9704 West Darnel Avenue, Tax Key No. 072-0408-8, for new home construction; and
Whereas, The area surrounding this parcel is fully developed and DCD recommends subdivision of the land into nine lots for new home construction; and
Whereas, DCD recommends marketing the land for single-family, owner-occupied homes, with lot prices ranging from $19,000 to $26,000, dependent upon size and location; and
Whereas, One unsolicited Offer to Purchase from Ms. Toni Greer and Mr. Larry Goodlow was submitted to DCD, and DCD recommends acceptance of said Offer and the marketing of the remaining lots via the open-listing method; and
Whereas, DCD recommends that all lots be sold in an "as is" condition, after final survey, with closing subject to site and building plan approval and receipt of financing commitments; and
Whereas, The City Plan Commission has approved the disposition of said tax deed parcel, to be consummated in the manner provided for in Section 304-49 of the Milwaukee Code of Ordinances; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the tax deed parcel located at 9704 West Darnel Avenue is declared surplus; and, be it
Further Resolved, That the Commissioner of DCD or designee are authorized to accept the above-mentioned unsolicited Offer to Purchase; and, be it
Further Resolved, That the Commissioner of DCD or designee are authorized and directed to market the remaining lots via the open listing method and to accept Offers to Purchase in accordance with special closing terms and conditions as set forth above; and, be it
Further Resolved, That the revenue derived from the sale of these lots shall be credited to the Reserve For Tax Deficit Fund Account No. 02-211-2700, less a 15 percent marketing and development fee to be credited to the Redevelopment Authority of the City of Milwaukee for its technical and financial support to this project.
ZDPT:
DFTR:
DCD-Real Estate
SS:jvg
06/02/99/F