Number
010373
Version
ORIGINAL
Reference
Sponsor
CHAIR
Title
Resolution authorizing agreement among City, National Business Enterprises, Inc. ("NBE"), and 30th Street Industrial Corridor Corporation ("ICC"), concerning assignment, under § 75.106, of City's right to § 75.521 in rem foreclosure judgment against 2879 North 30th Street and 3021 West Locust Street. (City Attorney)
Analysis
Resolution authorizes contract among City, NBE, and ICC pursuant to which City will assign its right to in rem foreclosure judgment on 2879 North 30th Street and 3021 West Locust Street (the "Parcels") to NBE in exchange for NBE's and ICC's commitment to cap the Parcels by improving them with a fenced-in paved parking lot, and NBE's commitment to contract with the DNR to deal with environmental issues affecting the Parcels.
Body
Whereas, 2879 North 30th Street (i) is now owned by Oliver Patterson, Wallene Frazier and J.W. Smith, (ii) is property-tax delinquent for years 1982, and 1984-2001, (iii) is, per City belief, a brownfield, and (iv) is parcel 525 in City's 2001 No. 2 in rem foreclosure file; and
Whereas, 3021 West Locust Street (i) is now owned by Stanley Fronczak, (ii) is property-tax delinquent for years 1988-1995, 1997, and 2001, (iii) is, per City belief, a brownfield, and (iv) is parcel 526 in City's 2001 No. 2 in rem foreclosure file; and
Whereas, NBE wishes to acquire the Parcels so it and ICC can use an $84,500 grant that ICC got from Milwaukee County to cap and improve the Parcels by constructing thereon, a paved, fenced-in parking lot; and
Whereas, The parking lot will serve NBE's business operations at the former Walsh Building at 2880 North 30th Street; and
Whereas, The former owner of the Walsh Building sold that building and moved its business operations to the suburbs largely because of the absence of off-street parking to serve the Walsh Building; and
Whereas, NBE has agreed, after it becomes owner of the Parcels, to recor...
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