NUMB:
970273
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution accepting the Offer to Purchase the surplus, improved, tax deed property located at 3508-10 West Lisbon Avenue, in the 17th Aldermanic District. (Department of City Development - Real Estate)
ANLS:
- Analysis -
This resolution accepts the Offer to Purchase received for said property.
BODY:
Whereas, 3508-10 West Lisbon Avenue was marketed for sale to community based organizations and no offer was received; and
Whereas, An Offer to Purchase said property was submitted by a licensed real estate broker representing Robert Banyard, the buyer, for $2,750 in lieu of demolition; and
Whereas, Broker's commission of $750 to be deducted from Robert Banyard Offer price; and
Whereas, Robert Banyard desires to purchase said property which would be used for investment purposes; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the Department of City Development is authorized and directed to accept the Offer to Purchase said property from Robert Banyard; and, be it
Further Resolved, That as a condition of the sale of surplus property, purchaser is 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 proper City officials are authorized and directed to perform such acts as may be required to consummate the sale and that the proceeds remaining from the sale of surplus property after payment of commissions and other related expenses be credited to the Reserve For Tax Deficit Fund Account No. 02-211-2700.
ZDPT:
DFTR:
DCD-Real Estate
MR:jvg
06/03/97/N
CATTMR:jvg
06/03/97/N
CATT