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File #: 200247    Version: 0
Type: Resolution Status: Passed
File created: 6/16/2020 In control: COMMON COUNCIL
On agenda: Final action: 7/28/2020
Effective date:    
Title: Resolution authorizing acceptance of an unsolicited offer to purchase from Don Bond for the City-owned tax deed property located at 3761 North 24th Street, in the 6th Aldermanic District.
Sponsors: ALD. COGGS
Indexes: CITY PROPERTY, PROPERTY SALES
Attachments: 1. Land Disposition Report and Due Diligence Checklist, 2. Fiscal Impact Statement, 3. Hearing Notice List
Number
200247

Version
ORIGINAL

Reference

Sponsor
ALD. COGGS

Title
Resolution authorizing acceptance of an unsolicited offer to purchase from Don Bond for the City-owned tax deed property located at 3761 North 24th Street, in the 6th Aldermanic District.

Analysis
This resolution authorizes the sale of City-owned Neighborhood Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-4.5 and 304-49-8 of the Milwaukee Code of Ordinances.

Body
Whereas, The City acquired the tax deed property at 3761 North 24th Street (the “Property”) on September 11, 2017; and

Whereas, Don Bond (“Buyer”) has submitted an unsolicited offer to purchase the Property and rehabilitate it as summarized in a Land Disposition Report (“LDR”), 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 of the City of Milwaukee (“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 Buyer’s offer and has determined that the offer represents fair compensation to the City in terms of community investment in the neighborhood; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the offer submitted by Don Bond for the property at 3761 North 24th Street is accepted; and, be it

Further Resolved, That the Commissioner of DCD, or designee, is authorized to close the transaction according to the terms of the LDR; and, be it

Further Resolved, That the Commissioner of DCD, or designee, is authorized to execute an Offer to Purchase, deed and all needed closing documents, including any needed easements and/or releases of deed restrictions; and, be it

Furth...

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