Number
251479
Version
ORIGINAL
Reference
Sponsor
ALD. STAMPER
Title
Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 1606 West Walnut Street, in the 15th Aldermanic District.
Analysis
This resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-3-b-1 and 304-49-6, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee (“City”) acquired 1606 West Walnut Street (the “Property”), through property tax foreclosure on March 24, 2021; and
Whereas, The Department of City Development (“DCD”) advertised the Property for sale on its website and through MLS; and
Whereas, DCD accepted offers on a continuous basis until an acceptable offer was received and DCD recommends sale to Ms. Detra Rodgers, (the “Buyer”), or assignee to acquire and redevelop the Property as summarized in a Land Disposition Report (“LDR”) and a Due Diligence Checklist (“DDC”), copies of which are attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the LDR and DDC are approved and that DCD is authorized to enter into a Purchase and Sale Agreement (“PASA”) with the Buyer, or assignee, materially consistent with the LDR and then convey the property to the Buyer or assignee, in accordance therewith; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign the PASA, deed and requisite closing documents and to close the transaction and to take such actions as may be needed to effectuate the terms of the LDR and this resolution; and, be it
Further Resolved, That at closing, subtracted from the sale proceeds and retained by the City of Milwaukee will be the amount of property taxes, interest, and fees owed; and all costs and expenses incurred. Retained funds will be distributed between the Redevelopment Authority of the City ...
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