Number
011476
Version
ORIGINAL
Reference
011044
Sponsor
THE CHAIR
Title
Resolution amending the method of disposition for the surplus, improved, tax-deed property at 1845 North 37th Street, in the 17th Aldermanic District. (DCD-Real Estate)
Analysis
This resolution amends the disposition of said property by directing that it be sold to a nonprofit organization for affordable housing purposes.
Body
Whereas, Common Council File No. 011044 adopted on December 21, 2001, declared surplus and directed that the Department of City Development sell 1845 North 37th Street via the open listing method; and
Whereas, Acts Community Development Corporation, a nonprofit organization, has offered to purchase said property for $500 for affordable housing and eventual resale to an owner-occupant; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the Department of City Development is authorized and directed to sell 1845 North 37th Street, Tax Roll Key No. 348-0065-000-5, to Acts Community Development Corporation for a fixed price of $500; and, be it
Further Resolved, That the proper City officials are authorized and directed to perform such acts as may be required to consummate the sale of said property and that the proceeds be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106; and, be it
Further Resolved, That in the event that the purchaser is unable to consummate the sale of said property, disposition will automatically revert back to sale under the open listing method without further action by the Common Council; and, be it
Further Resolved, That as a condition of the sale of surplus property, purchaser is required to bring property into compliance with applicable building codes within the time specified by the Department of Neighborhood Services or said property may revert back to the ownership of the City of Milwaukee upon action by the Common Council.
Drafter
DCD-Real Estate
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