NUMB:
970031
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution declaring as surplus and authorizing the sale of improved, City-owned/tax deed properties located in various aldermanic districts. (Department of City Development - Real Estate)
ANLS:
- Analysis -
This resolution directs the Commissioner of the Department of City Development to dispose of property in accordance with the ordinance governing the sale of surplus property.
BODY:
Whereas, The Commissioner of the Department of City Development recommends the sale of the following City- owned/tax deed properties via the open listing method:
PROPERTY ADDRESS, LISTING PRICE, ALDERMANIC DISTRICT
3411 North 8th Street, TK #283-1265-4 $15,000 6th
3431 North 13th Street, TK #284-2132-6 $10,000 10th
2865-67 North 19th Street, TK #311-1784-100-9 $9,000 7th
2656 North 36th Street, TK #327-1512-2 $7,000 10th
2159-61 North 41st Street, TK #348-0530-2 $19,000 17th
2131 North 44th Street, TK #347-0357-5 $10,000 17th
1120-22 West Locust Street, TK #312-0192-3 $8,000 6th
; and
Whereas, The City Plan Commission has determined that said properties have no possible municipal use and therefore recommends sale of them to the highest acceptable offer; and
Whereas, The Public Improvements Committee determined that said properties are surplus to the City's needs and therefore recommends sale of them to the highest acceptable offer; and
Whereas, The Zoning, Neighborhoods and Development Committee recommends that the Commissioner of the Department of City Development be authorized and directed to list said properties for sale via the open listing method pursuant to Section 304-49 of the Milwaukee Code of Ordinances and to accept Offers to Purchase on behalf of the City of Milwaukee under the following terms and conditions:
A. The Offer conforms in all respects with the sales procedure.
B. The net offer (offer less sale's commission) is greater than 75 percent of the listing price.
C. The buyer is not delinquent in the payment of real estate taxes on any properties that he/she may own in the City of Milwaukee.
D. The buyer has not been convicted, within twelve (12) months preceding the date of the Offer, of failure to comply with an order from the Commissioner of Building Inspection of the City of Milwaukee to correct code violations; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that said properties are declared surplus and that the Commissioner of the Department of City Development is authorized and directed to advertise and list said properties for sale to the highest acceptable offer; and, be it
Further Resolved, That the Commissioner of the Department of City Development is authorized and directed to accept Offers to Purchase on behalf of the City of Milwaukee and to perform such acts as are necessary to close the transactions under the terms and conditions as set forth above; and, be it
Further Resolved, That if no offer is received for any of said properties after advertising them on two occasions, said properties asking price will be reduced by up to 25 percent; and, be it
Further Resolved, That as a condition of the sale of surplus property, purchasers are required to bring property into compliance with applicable building codes within the time specified by the Building Inspection Department or said property may revert back to the ownership of the City of Milwaukee upon action by the Common Council; and, be it
Further Resolved, That the proceeds remaining from the sale of surplus property after payment of commissions and other closing related expenses be credited to the Reserve For Tax Deficit Fund Account No. 02-211-2700.
ZDPT:
DFTR:
DCD-Real Estate
MR:jvg
04/22/97/G
CATT700.
ZDPT:
DFTR:
DCD-Real Estate
MR:jvg
04/22/97/G
CATT