Number
050943
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution declaring surplus and authorizing the sale of the improved, tax-deed property at 8859-A North Swan Road, in the 9th Aldermanic District.
Analysis
This resolution declares said property surplus to municipal needs and authorizes acceptance of an unsolicited Offer to Purchase.
Body
Whereas, The Woodlands Condo Homeowners Association, Inc. has offered to purchase said property for $7,200 to rehabilitate it and sell it to an owner-occupant; and
Whereas, The City Plan Commission has determined that the property is surplus to municipal needs; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the property at 8859-A North Swan Road, Tax Key No. 034-0527-000-4, is declared surplus to municipal needs and that the Commissioner of DCD or his designee is authorized to accept said unsolicited Offer to Purchase from the Woodlands Condo Homeowners Association, Inc. in the amount of $7,200; and, be it
Further Resolved, That closing the transaction is contingent upon receipt of an acceptable scope of work for said Condo unit’s renovation and evidence of available funds from the Woodlands Condo Homeowners Association, Inc. to complete the project as proposed; and, be it
Further Resolved, That in the event the buyer is unable to complete the purchase of said property, disposition automatically reverts to sale via the open listing method at an asking price of $7,200 without further action by the Common Council; and, be it
Further Resolved, That the proper City officials are authorized and directed to perform such acts as may be required to consummate the sale of said property and that the proceeds, less sale expenses and a 20 percent disposition cost reimbursement to the Redevelopment Authority of the City of Milwaukee, be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106; and, be it
Further Resolved, That as a condition of the sale of sur...
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