Number
011684
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution declaring as surplus and authorizing the sale of improved, City-owned/tax-deed properties located in various aldermanic districts.
Analysis
This substitute resolution directs the Commissioner of the Department of City Development or designee 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 in "as is" condition via the open listing method:
PROPERTY ADDRESS, TAX KEY NUMBER, LISTING PRICE, ALDERMANIC DISTRICT
2335 South 5th Place, TK #498-1407-000-9, $18,200.00, 14th
3535 North 8th Street, TK #272-1626-000-2, $24,100.00, 6th
2733 North 9th Street, TK #312-3408-100-7, $14,900.00, 17th
3242-44 North 9th Street, TK #283-0025-000-0, $20,800.00, 6th
2327 South 9th Street, TK #497-0277-000-8, $41,400.00, 12th
2955 North 10th Street, TK #312-0702-100-0, $16,300.00, 10th
1501 South 11th Street, TK #461-1252-000-7, $13,500.00, 12th
2828 North 12th Street, TK #312-3219-000-3, $18,800.00, 17th
3437 North 13th Street, TK #284-2131-000-0, $8,700.00, 10th
3819 North 15th Street, TK #271-1117-000-8, $10,800.00, 10th
2433 North 21st Street, TK #325-0475-000-X, and the vacant lot at 2439 North 21st Street, TK #325-0472-3, $10,100.00, 7th
1625 North 23rd Street, TK #364-1923-000-0, $6,100.00, 17th
3529 North 25th Street, TK #270-1183-000-0, $26,300.00, 10th
4463 North 26th Street, TK #231-0805-000-4, $36,100.00, 1st
1944 North 27th Street, TK #350-1228-000-7, $9,200.00, 17th
1728-30 North 38th Street, TK #348-1247-000-2, $6,200.00, 17th
4432-34 West Lloyd Street, TK #347-0366-000-4, $42,400.00, 17th
3036-38 North Richards Street, TK #314-0670-000-6, $22,700.00, 6th
3565-67 North Teutonia Avenue, TK #271-1048-000-3, $16,500.00, 10th
; and
Whereas, Any adjoining City-owned/tax-deed vacant lot may be sold with an improved property to enhance its disposition and by this resolution is declared surplus; and
Whereas, The City Plan Commission and the Public Improvements Committee have determined that said properties have no possible municipal use and are surplus to the City's needs and recommends sale of them to the highest acceptable offer; and
Whereas, The Zoning, Neighborhoods and Development Committee has determined that said properties should be sold via the open listing method pursuant to Section 304-49 of the Milwaukee Code of Ordinances 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 months preceding the date of the Offer, of failure to comply with an order from the Commissioner of the Department of Neighborhood Services 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 or designee 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 or designee 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 property after advertising it on two occasions, the 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 Department of Neighborhood Services 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. 0001-334106.
Drafter
DCD:KT:kt
04/18/02