NUMB:
000178
VERS:
ORIGINAL
REF:
XXBY:
The Chair
TITL:
Resolution authorizing satisfaction in full of outstanding in personam judgment against CB Properties, Incorporated for 1986-1998 delinquencies concerning 3551-61 North Teutonia Avenue, and allowing entry into a Four-Party Agreement. (City Attorney)
ANLS:
- Analysis -
This resolution will permit the City of Milwaukee to satisfy, in full, its $57,200.31 judgment against CB Properties, Incorporated and authorize the City Attorney's Office to enter into a "Four-Party Agreement" pursuant to which the property at 3551-61 North Tuetonia Avenue will be remediated and put into tax-paying hands.
BODY:
Whereas, The City of Milwaukee sued CB Properties, Incorporated ("CB") and Ruth W. Baldwin ("Ruth"), the widower of the sole shareholder of CB, in Milwaukee County Circuit Court Case No. 98-CV-008413 for the 1986-1998 delinquencies against 3551-61 North Teutonia Avenue, Milwaukee, Tax Key No. 271-2701-0 (the "Property"); and
Whereas, The parties to the CB litigation entered into a 6/22/99 "Settlement Stipulation and Order" (the "Stip") that was accepted and ordered by Judge Stanley Miller, pursuant to which the City was paid $14,455 so that those funds could be paid to Giles Engineering Associates, Inc. ("Giles") to do environmental testing on the Property; and
Whereas, Giles did test and found that the Property was adversely affected by environmental matters; and
Whereas, CB has no remaining assets whatsoever except for the tainted Property; and
Whereas, In light of Giles' findings, under the Stip, and even though the City knew that CB had no remaining assets except for the tainted Property, the City elected to take an in personam judgment against CB for the 1986-1998 delinquencies rather than an in rem foreclosure against the Property; and
Whereas, On 12/13/99, Judge Miller ordered that judgment be entered in the City's favor and against CB with respect to the 1986-1998 de...
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