Number
070281
Version
ORIGINAL
Reference
Sponsor
ALD. BAUMAN
Title
Resolution authorizing an agreement between the City of Milwaukee and Community Care, Inc., for assignment under Wisconsin Statute Section 75.106 of the City’s right to an in-rem foreclosure judgment against 3116 West Cherry Street, in the 4th Aldermanic District.
Analysis
This resolution directs property tax foreclosure against 3116 West Cherry Street so assignment of the foreclosure judgment to a developer, Community Care, Inc., may occur so the property may be remediated, improved and placed in taxpaying ownership.
Body
Whereas, Based on City of Milwaukee (“City”) records, 3116 Cherry Street Inc. owns tax-delinquent property at 3116 West Cherry Street (“Parcel”); and
Whereas, The City and Community Care, Inc., (“CCI”) believe that the Parcel may be environmentally impacted or a “brownfield” based on historical land use and/or other limited investigations that have been performed; and
Whereas, CCI (whose officers of the corporation are Kirby Shoaf, Paul Soczynski, Mary Gavinski, Larry Paplham, Lore Borth and Scott Johnson) wishes to use the brownfield redevelopment tool available under Wisconsin Statute Section 75.106 to acquire the Parcel via City assignment of the City’s right to a Wisconsin Statute Section 75.521 in-rem foreclosure judgment; and
Whereas, Department of City Development (“DCD”), Real Estate staff, requested that the City commence an in-rem foreclosure action against the Parcel, and the City did or will include the Parcel in its 2007 No. 1 In-Rem File, Milwaukee County Circuit Court; and
Whereas, CCI wishes to enter into a “75.106 In-Rem Assignment Contract” (“75.106 Contract”) and to accept assignment of the City’s right to an in-rem foreclosure judgment in exchange for: paying $3,500 toward the City’s foreclosure expenses; paying the City for the assignment ($5,500 less a redevelopment fee of 25 percent made payable to the Redevelopment Authority of the City of Milwaukee); paying all unforeclosed tax-roll amounts; testing and remediating the Parcel to the extent required by the Wisconsin Department of Natural Resources; and constructing a parking lot on the parcel (which is now vacant land); now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that DCD, Real Estate staff, and the City Attorney’s office are directed to finalize negotiations of the 75.106 Contract between the City and CCI consistent with the terms and conditions outlined herein; and, be it
Further Resolved, That the proper City officials are authorized to execute said 75.106 Contract and take all actions required or contemplated thereunder; and, be it
Further Resolved, That the City Treasurer and City Attorney shall prosecute Section 75.521 in-rem foreclosure against the Parcel so that judgment may be assigned to CCI per the terms of the 75.106 Contract; and, be it
Further Resolved, That foreclosure expense amounts paid to the City under the 75.106 Contract (herein called “Foreclosure Expense Moneys”) shall be deposited in a City general fund liability account (customer deposit 201104-0001-1490) under the control of the City Treasurer, to be used and applied per said 75.106 Contract (including, but not limited to, paying for or reimbursing foreclosure expenses incurred by the City Attorney or by the City Treasurer); and, be it
Further Resolved, That if the City is successful in its foreclosure efforts and judgment of foreclosure on the Parcel is granted to CCI, the Redevelopment Authority of the City of Milwaukee shall be paid its 25 percent fee out of the purchase price; and, be it
Further Resolved, That if any part of the $3,500 Foreclosure Expense Moneys remain after reimbursing the Treasurer’s office and the City Attorney’s office foreclosure expenses, then those remaining funds, along with any part of the purchase price not paid to the Redevelopment Authority of the City of Milwaukee for its 25 percent fee shall be transferred and deposited in the Tax-Deed Remediated Property Account 0110-107802 to help offset the principal amount of the delinquencies against the Parcel.
Drafter
CA:DCD
GCH:MFH:mfh
05/30/07/A