NUMB:
970987
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. (DCD - 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 in "as is" condition via the open listing method:
PROPERTY ADDRESS, LISTING PRICE, ALDERMANIC DISTRICT
3073-77 North 6th Street, TK #312-1523-X $48,000 6th
2608-10 South 7th Street, TK #497-1026-0 $40,000 8th
2867 North 8th Street, TK #312-1788-1 $8,800 17th
2752 North 11th Street, TK #312-3112-1 $6,000 17th
1137 South 12th Street, TK #432-0338-4 $10,000 12th
3381 North 23rd Street, TK #285-1385-1 $8,800 10th
2149-51 North 28th Street, TK #349-1819-9 $10,800 7th
4620 North 28th Street, TK #230-0521-3 $14,000 1st
3974 North 29th Street, TK #269-0414-6 $22,000 10th
2512 North 35th Street, TK #326-1499-6 $10,000 7th
1933 North 38th Street, TK #348-0281-X $10,000 17th
5225 North 54th Street, TK #190-0929-4 $10,000 1st
2820 North 73rd Street, TK #304-0428-3 $75,000 2nd
2728 North Fratney Street, TK #314-0048-4 $34,000 6th
2477 West Hadley Street, TK #310-1853-X $10,000 7th
3129 North Julia Street, TK #282-1720-X $8,000 6th
2113 West Mitchell Street, TK #459-1036-4 $26,000 8th
4632 West Tripoli Avenue, TK #555-0097-5 $76,000 11th
; 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 (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 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 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
10/14/97/C