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File #: 140569    Version: 0
Type: Resolution Status: Passed
File created: 7/22/2014 In control: COMMON COUNCIL
On agenda: Final action: 9/23/2014
Effective date:    
Title: Resolution authorizing continued and increased use of real estate brokers to list, market and have limited management and monitoring responsibilities for tax-foreclosed residential property.
Sponsors: ALD. BOHL, ALD. MURPHY, ALD. BAUMAN
Indexes: FORECLOSURES
Attachments: 1. PowerPoint, 2. Hearing Notice List
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
10/2/20140 MAYOR SIGNED   Action details Meeting details Not available
9/23/20140 COMMON COUNCIL ADOPTEDPass15:0 Action details Meeting details Not available
9/16/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Individuals appearing: Martha Brown, Department of City Development Aaron Szopinski, Mayor's Office Mario Higgins, Mayor's Office Pres. Michael Murphy, 10th Aldermanic District Gregg Hagopian, City Attorney's Office Ald. Bohl, Murphy, and Bauman added as sponsors. Marne Snuck, Greater Milwaukee Association of Realtors, appeared in support.
Pass5:0 Action details Meeting details Video Video
9/10/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
7/22/20140 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
140569
Version
ORIGINAL
Reference
130900
Sponsor
ALD. BOHL, MURPHY AND BAUMAN
Title
Resolution authorizing continued and increased use of real estate brokers to list, market and have limited management and monitoring responsibilities for tax-foreclosed residential property.
Analysis
This resolution removes the pilot status of the program established by Common Council File No. 130900 and allows further increased use of the program to use real estate brokers to list, market and have limited management and monitoring responsibilities for tax-foreclosed residential property and it increases the number of brokers that may be engaged for the program.
Body
Whereas, The Department of City Development ("DCD") is, under Milwaukee Code of Ordinances ("MCO") 308-1-2-k and 304-49, responsible for attending to the operation, maintenance and repair of in-rem parcels, including habitable neighborhood properties (as defined in MCO 304-49), until they are sold; and
 
Whereas, Common Council File No. 130900, adopted on November 26, 2013, authorized DCD to establish a nine-month trial/pilot program through which up to five real estate brokers would serve as selling/listing brokers for up to 100 tax-foreclosed residential properties in order to promote sales of such properties; and
 
Whereas, Common Council File No. 130900 directed DCD to report the results of the pilot program; and
 
Whereas, DCD's Request for Qualifications ("RFQ") process to solicit broker interest attracted responses from twenty real estate companies; and
 
Whereas, DCD evaluated the RFQ responses and selected the top five scoring brokers to participate in the pilot program; and
 
Whereas, As of mid-July, 2014, the five selected real estate brokers had sold 67 properties, with 18 accepted offers pending closing; and
 
Whereas, With the assistance of the selling/listing brokers, sales of tax-foreclosed residential properties during 2014 are on pace to reach a record annual total; and
 
Whereas, The selling/listing brokers are required to file weekly reports regarding the condition of properties they are listing, which also is providing additional monitoring of City-owned properties; and
 
Whereas, DCD has been satisfied with the results of the pilot program and recommends that the Council remove the trial/pilot status and authorize increased and continued use of the program; and
 
Whereas, DCD further recommends that up to ten selling/brokers be engaged in the program at any one particular time, with no limit on the number of properties assigned to selling/listing brokers; now, therefore, be it
 
Resolved, By the Common Council of the City of Milwaukee, that the trial/pilot status of the program be and is removed and that DCD is directed to continue to use the program for engaging selling/listing brokers to list, market and have limited management and monitoring responsibilities for tax-foreclosed residential property; and, be it
 
Further Resolved, That DCD is directed to use up to ten selling/listing brokers at any one time, with no limit on the number of properties assigned to them, with their services to include advertising and marketing City-owned, habitable, neighborhood properties (MCO 304-49-2-b-1) that the City acquired by property tax foreclosure for conveyance as allowed by MCO 304-49-4-a and 304-49-7; and, be it
 
Further Resolved, That DCD is directed to select additional brokers based on the scoring of the RFQ issued for the pilot program and/or similar scoring of future RFQ's; and, be it
 
Further Resolved, That the appropriate City officials and employees are directed to take such actions, as may be necessary or required, to effectuate this resolution, including DCD's Commissioner, or designee, entering into listing contracts and conveying as contemplated herein.
Drafter
DCD:Martha.Brown:mlb
07/22/14/A