Number
231711
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. WESTMORELAND
Title
Substitute resolution authorizing acceptance of an unsolicited offer to purchase for the City-owned tax deed property located at 8621 West Lisbon Avenue, in the 5th Aldermanic District.
Body
Whereas, The property at 8621 West Lisbon Avenue (Tax Key 29300940003) (“Property”) was acquired by the City of Milwaukee (“City”) from Richard Autio (“Former Owner”) through in rem property tax foreclosure in November of 2023; and
Whereas, The Former Owner passed away after the City’s acquisition of the Property; and
Whereas, David Larry-Richard Borg (“Buyer”) relative heir of the Former Owner desires to purchase the Property from the City; and
Whereas, The Department of City Development (“DCD”) recommended that the property be marketed for sale; and
Whereas, Section 304-49-8 of the Milwaukee Code of Ordinances allows the City to accept unsolicited offers to purchase property when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The Common Council of the City of Milwaukee desires to authorize the sale of the Property to the Buyers; and
Whereas, The file sponsor recommends accepting the Buyer’s purchase price offer of $17,373, which represents the taxes due at the time of foreclosure and departmental expenses; now therefore, be it
Resolved, That DCD is authorized to accept an unsolicited offer to purchase the Property from the Buyer, provided that the Buyer meets the following conditions:
1) The offer price equals the sponsor of the file’s recommendation, which is $17,373.
2) The Buyer provides documented evidence of financial ability to pay the full sales price at closing, and understands that the evidence will be verified by DCD.
3) The Buyer passes all of the City’s standard buyer checks.
4) The Buyers close the sale no later than May 31, 2024 following the certification of this file; and, be it
Further Resolved, That if the sale does not cl...
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