NUMB:
970985
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution declaring as surplus the vacant, tax deed lot located at 1715 South 14th Street and accepting an Offer to Purchase from Spincycle, Inc., in the 12th Aldermanic District. (DCD - Real Estate)
ANLS:
- Analysis -
Adoption of this resolution will declare this vacant, tax deed lot surplus to the City's needs and will approve the sale of same to Spincycle, Inc., for the purpose of inclusion in their overall building plans for this property.
BODY:
Whereas, Spincycle, Inc., has proposed building a laundromat on their site at 1401-17 West Mitchell Street; and
Whereas, Spincycle, Inc., offered to purchase 1715 South 14th Street which adjoins their site for use as outdoor greenspace; and
Whereas, The Department of City Development recommends sale of said lot for the amount $5,250 and that closing of the sale is subject to the following contingencies:
1. Proof of ownership of 1401-17 West Mitchell Street.
2. Submission and approval of site and building plans.
3. Receipt of satisfactory evidence from Spincycle, Inc., that sufficient funds are available to undertake and complete the proposed project.
4. A closing must be completed within twelve months from adoption of this resolution by the Common Council of the City of Milwaukee; and
Whereas, Said lot is being sold in an "as is" condition and the City of Milwaukee is not responsible now or in the future for any existing subsoil conditions; and
Whereas, The City Plan Commission has approved the sale pursuant to Section 304-49 of the Milwaukee Code of Ordinances; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the proper City officials are authorized and directed to perform such acts as may be required to consummate this sale in accordance with the provisions referred to above and that the proceeds be credited to the Reserve For Tax Deficit Fund Account No. 02-211-2700.
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