City of Milwaukee - File #: 130900

• File #: 130900
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 10/15/2013
• In control: COMMON COUNCIL
• Final action: 11/26/2013
• Title: Substitute resolution authorizing the establishment of a pilot program to use real estate brokers to list, market and have limited management and monitoring responsibilities for tax-foreclosed residential property.
• Sponsors: ALD. MURPHY, ALD. BAUMAN, ALD. DAVIS, ALD. BOHL
• Indexes: FORECLOSURES

Date	Ver.	Action By	Action	Result	Tally
12/5/2013	1	MAYOR	SIGNED
11/26/2013	1	COMMON COUNCIL	ADOPTED	Pass	15:0
11/20/2013	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individual appearing: Martha Brown, Department of City Development Deputy Commissioner Jeffrey Osterman, Legislative Reference Bureau Dennis Yaccarino, Budget Office Ald. Bohl added as a cosponsor.	Pass	5:0
11/19/2013	1	CITY CLERK	DRAFT SUBMITTED
11/14/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/14/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/14/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
10/15/2013	0	COMMON COUNCIL	ASSIGNED TO

Number
130900
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. MURPHY, BAUMAN, DAVIS and BOHL
Title
Substitute resolution authorizing the establishment of a pilot program to use real estate brokers to list, market and have limited management and monitoring responsibilities for tax-foreclosed residential property.
Analysis
This substitute resolution approves a pilot program under which the City will enter into listing contracts with a limited number of real estate brokers for up to nine months to market and have limited management and monitoring responsibilities for up to 100 vacant, City-owned residential properties that the City acquired by property tax foreclosure.
Body
Whereas, The Department of City Development (“DCD”) is, under the Milwaukee Code of Ordinances (“MCO”) 308-1-2-k and 304-49, responsible for attending to the operation, maintenance and repair of in-rem parcels, including habitable neighborhood properties (as defined in MCO 304-49), until they are sold; and

Whereas, In accordance with the City’s standard offer to purchase form for residential units, the City currently pays a commission to brokers for bringing buyers to the City who close on the purchase of habitable neighborhood properties but, heretofore, those brokers have been buyer-brokers (not selling or listing brokers) and the City has not entered into listing contracts with the brokers; and

Whereas, In an effort to increase sales of City-owned, in-rem parcels, DCD now wants to experiment with the marketing of vacant, habitable, neighborhood parcels by engaging brokers, as selling/listing brokers, for a commission under listing contracts, under which the brokers will have certain marketing duties as well as certain inspection, monitoring and reporting duties; and

Whereas, In light of current economic conditions and the growing number of parcels in the City-owned inventory, the Common Council wishes to promote sales and to allow a trial period for the use of selling/listing broker...