Number
001595
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing (i) agreement among City of Milwaukee ("City"), Sherman Perk, LLC ("Sherman"), Redevelopment Authority of City of Milwaukee ("RACM") and Sherman's lawyer, concerning a Wis. Stat. § 75.106 assignment of City's right to Wis. Stat. § 75.521 in rem foreclosure judgment against 4924 West Roosevelt Drive, and (ii) City action under that agreement. (City Attorney)
Analysis
Resolution authorizes contract among City, RACM, Sherman, and Sherman's lawyer pursuant to which City will assign its right to in rem foreclosure judgment on 4924 West Roosevelt Drive (the "Parcel") to Sherman in exchange for Sherman's commitment to remediate and improve that parcel.
Body
Whereas, The Parcel is (i) now owned of record by Action Imports, (ii) is property-tax delinquent for years 1991-2000, and (iii) is, per City investigation, a brownfield and contaminated by the discharge of a hazardous substance; and
Whereas, Sherman wishes to acquire the Parcel so it can remediate it, and improve it, and operate thereon a neighborhood coffee shop; and
Whereas, City commenced an in rem property-tax-foreclosure action against the Parcel (List of Tax Liens, 2000 No. 3, Circuit Court Case No. 00-CV-008706, Parcel 69, 4924 West Roosevelt Drive, Tax Key No. 288-1059-000-0) under Wis. Stat. § 75.521 concerning delinquent years 1991-1998, and that action is currently pending before the court; and
Whereas, Wis. Stat. § 75.106 allows the City to assign its right to Wis. Stat. § 75.521 in rem foreclosure judgments to third persons under certain circumstances; and
Whereas, City, wishing: to foster economic development, brownfield remediation and redevelopment; to return tax-delinquent properties to the tax roll; and to promote public health, safety, and welfare, negotiated the "75.106 In Rem Assignment Contract" attached to the file as Exhibit A (the "75.106 Contract") among City, Sherman, Sherman's lawyer, and RACM governing the specifics of City's 75.106 assignment deal (which specifics also call for Sherman to pay the 1999 and 2000 delinquencies that won't be foreclosed in City's foreclosure action); and
Whereas, RACM, at its 3/15/01 meeting, approved the 75.106 Contract subject to approval by the Common Council; now, therefore, be it
Resolved, That, the City hereby approves the 75.106 Contract and directs and authorizes: (i) its execution (or execution of a contract in substantially the form as attached to the file) by the appropriate City employees; and (ii) City action as contemplated and required thereunder (including, but not limited to, Treasurer and City Attorney prosecuting § 75.521 in rem foreclosure against the Parcel so that judgment may be assigned to Sherman per the terms of the 75.106 Contract); and, be it
Further Resolved, That in the event judgment of foreclosure is granted to Sherman in Case No. 00-CV-008706, $13,001.18 be appropriated from 0001-2210-107801 (tax deed properties account) to pay the principal amount of the 1991-98 delinquencies against the parcel that will be foreclosed against, and $7,120.00 be appropriated from CD2050040127 (the block grant, CDBG RACM brownfields fund) to provide matching funds under the State DNR Brownfield's Site Assessment Grant Award as called for in para. 15 of the 75.106 Contract.
Requestor
Department of City Development
Drafter
City Attorney
Gregg C. Hagopian
2/6/2001
37330
Clerical errors corrected 3/20/01. mbh