Number
260053
Version
ORIGINAL
Reference
Sponsor
ALD. PRATT
Title
Resolution authorizing the acceptance of an unsolicited offer to purchase from Maxon Industries, Inc. for the portion of the City-owned tax deed property at 6600 North Teutonia Avenue, in the 1st Aldermanic District.
Analysis
This resolution authorizes the sale of a portion of the City-owned property according to the conditions in a Land Disposition Report pursuant to Sections 304-49-3-b-1, 309-49-11 and 304-49-6, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee (“City”) acquired the tax deed property at 6600 North Teutonia Avenue on June, 29, 2011 through property tax foreclosure; and
Whereas, Maxon Industries, Inc. and/or assigns (the “Buyer”) submitted an offer to purchase for a portion of 6600 North Teutonia Avenue (the “Property”) for business expansion purposes as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-3 of the Milwaukee Code of Ordinances (“MCO”) allows the City of Milwaukee to accept offers with the approval of the Common Council of the City of Milwaukee (“Common Council”); and
Whereas, Section 304-49-11 of the MCO allows the City to sell properties when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The Buyer’s offer represents fair compensation for the Property due to the Property having ingress and egress limitations and topographic challenges; and
Whereas, The Buyer seeks to purchase the property to expand its business operations with its abutting property at 3204 West Mill Road in the 1st Aldermanic District; and
Whereas, The Department of City Development (“DCD”) has reviewed the Buyer’s offer and has determined that the offer represents fair compensation to the City; now therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the offer submitted by Maxon Industries, Inc. and/or assigns, for a portion of...
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