NUMB:
970897
VERS:
SUBSTITUTE 1
XXBY:
THE JUDICIARY AND LEGISLATION COMMITTEE
TITL:
Substitute resolution authorizing the return of real estate located at 2728 North Fratney Street, in the 6th Aldermanic District of the City of Milwaukee to its former owner upon payment of all city and county tax liens and any special improvement bonds, with all interest and penalty thereon and all costs as sustained by the City in foreclosing and managing said real estate.
ANLS:
Permits return of property owned by the City under conditions imposed by Ordinance File Number 901739, passed by the Common Council on July 28, 1992.
BODY:
Whereas, The property located at 2728 North Fratney Street, tax key number 314-0048-4 previously owned by NationsCredit Financial Corporation has delinquent taxes for 1994 through 1996 and was foreclosed upon pursuant to Sec. 75.521, Wis. Stats., and a fee simple absolute was obtained in favor of the City of Milwaukee dated August 26, 1997; and
Whereas, NationsCredit Financial Corporation would like to reclaim said property by paying all City and County real estate taxes, plus accrued interest and penalties to date of payment, and all costs as sustained by the City in the foreclosing and management of said property since August 26, 1997; and
Whereas, The Department of Building Inspection indicates currently no unabated orders exist on this property but objects to its return until all this owner's properties are properly recorded by M.C.O. 200-51.5; and
Whereas, The City Treasurer's records show outstanding 1994 through 1996 taxes, plus interest, penalties, and costs, as listed on the coordinated plan summary attached to this file; and
Whereas, The Department of City Development reports that this property is not suitable for use by a public agency or community based organization. Said property is occupied but no rent has been collected and administrative costs have been incurred; and
Whereas, The Health Department reported no outstanding orders or notices, and no clean up notices have been issued against this property under Section 80-8 or 17-12 in 1996 or thus far in 1997; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that in order to return the property at 2728 N. Fratney Street, a cashier's check must be submitted in the amount indicated in the coordinated report summary attached to this file to the City Treasurer within forty-five (45) calendar days of the adoption of this resolution; and, be it
Further Resolved, That the City Attorney is then authorized to enter into a stipulation with the former owner to reopen and vacate the City's judgment in Milwaukee County Circuit Court Case No. 97-CV-002395 known as the 1997-1 In Rem, Parcel 110, securing the court's order and recording said order with the Milwaukee County Register of Deeds; and, be it
Further Resolved, That if the above delinquent taxes, interest, and penalties are not paid within forty-five (45) calendar days of the adoption of this resolution, this process becomes null and void.
DFTR
CC CC
kmm
10-3-97
970897