NUMB:
991925
VERS:
ORIGINAL
REF:
990746
XXBY:
THE CHAIR
TITL:
Resolution amending the disposition of the surplus, improved, tax deed properties located at 2776-78 North 24th Street and 2873-75 North 26th Street, in the 7th Aldermanic District. (DCD-Real Estate)
ANLS:
- Analysis -
This resolution amends the disposition of said properties by directing that they be sold to a nonprofit organization for affordable housing purposes.
BODY:
Whereas, Common Council File No. 990746, adopted on September 28, 1999, declared surplus and directed that the Department of City Development sell 2776-78 North 24th Street and 2873-75 North 26th Street via the open listing method; and
Whereas, Acts Community Development Corporation, a nonprofit organization, has offered to purchase said properties for $500 each for affordable housing purposes and eventual resale to owner-occupants; 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 2776-78 North 24th Street and 2873-75 North 26th Street, Tax Roll Key Nos. 310-0221-5 and 310-2607-X, to Acts Community Development Corporation at a fixed price of $500 each; 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 properties and that the proceeds be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106; and, be it
Further Resolved, That as a condition of the sale of surplus property, purchaser is required to bring properties into compliance with applicable building codes within the time specified by the Department of Neighborhood Services or properties may revert back to the ownership of the City of Milwaukee upon action by the Common Council.
ZDPT:
DFTR:
DCD-Real Estate
MR:jvg
04/11/00/D