NUMB:
991739
VERS:
ORIGINAL
REF:
XXBY:
ALD. MURPHY
TITL:
Resolution declaring as surplus and authorizing the sale of an improved, tax deed property located at 3227-31 West National Avenue, in the 16th Aldermanic District. (DCD-Real Estate)
ANLS:
- Analysis -
This resolution will permit the Department of City Development to market and sell a City-owned/tax deed property in a manner supportive of and consistent with uses in the respective aldermanic district.
BODY:
Whereas, The Common Council of the City of Milwaukee expects the Department of City Development ("DCD") to design and implement real estate disposition and development strategies that will spur redevelopment compatible with neighborhoods in terms of land use and urban design; and
Whereas, The City of Milwaukee ("City") owns property representing significant redevelopment and revenue potential, more particularly described as follows:
3227-31 West National Avenue - retail commercial use preferred. 8,137 square foot building - 13,050 square feet of land - Asking Price $25,000 - Zoning is LC-40 - Tax Key No. 435-0267-0 - 16th Aldermanic District
; and
Whereas, The DCD has formulated a marketing plan for this property that generally includes the following elements:
1. Create a listing (Property Information Sheet) for the property that illustrates physical and locational attributes. Advertise with a Request For Proposal ("RFP") at the asking price.
2. Indicate the City's preferred use(s) for this property, in addition to these which are allowable by zoning.
3. Advertise in major media outlets and do direct marketing to the real estate development and brokerage community.
4. Invite options to purchase with proposals to redevelop the property for a 45-day period.
5. Pay brokers a full commission of 10 percent of the purchase price on the closed transaction; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that said property i...
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