Number
240527
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. STAMPER
Title
Substitute resolution authorizing the acceptance of an unsolicited offer to purchase for the City-owned properties located at 2651 and 2657 North 30th Street, in the 15th Aldermanic District.
Analysis
This substitute resolution authorizes the sale of City-owned properties at 2651 and 2657 North 30th Street according to the conditions in a Land Disposition Report pursuant to Section 304-49-8 of the Milwaukee Code of Ordinances.
Body
Whereas, The City acquired the tax deed property at 2651-53 North 30th Street in July, 2020 and 2657 North 30th Street in March, 2017 (the “Properties”); and
Whereas, Natalio Lopez, Jr. (the “Buyer”) has submitted an unsolicited offer to purchase the Properties and rehabilitate them as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-4.5 of the Milwaukee Code of Ordinances (“MCO”) allows the City of Milwaukee ("City") to accept unsolicited offers with the approval of the Common Council; and
Whereas, Section 304-49-8 of the MCO allows the City to sell properties when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The Department of City Development (“DCD”) has reviewed the offer and the development proposal from the Buyer and has determined that the offer and proposal represent fair compensation to the City in terms of the purchase price and investment in the neighborhood; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the offer submitted by the Buyer is accepted; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign the Purchase and Sale Agreement, 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 Land Disposition Report and this resolution; and, be it
Further Resolved,...
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