City of Milwaukee - File #: 140569

• File #: 140569
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 7/22/2014
• In control: COMMON COUNCIL
• Final action: 9/23/2014
• Title: Resolution authorizing continued and increased use of real estate brokers to list, market and have limited management and monitoring responsibilities for tax-foreclosed residential property.
• Sponsors: ALD. BOHL, ALD. MURPHY, ALD. BAUMAN
• Indexes: FORECLOSURES

Date	Ver.	Action By	Action	Result	Tally
10/2/2014	0	MAYOR	SIGNED
9/23/2014	0	COMMON COUNCIL	ADOPTED	Pass	15:0
9/16/2014	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Martha Brown, Department of City Development Aaron Szopinski, Mayor's Office Mario Higgins, Mayor's Office Pres. Michael Murphy, 10th Aldermanic District Gregg Hagopian, City Attorney's Office Ald. Bohl, Murphy, and Bauman added as sponsors. Marne Snuck, Greater Milwaukee Association of Realtors, appeared in support.	Pass	5:0
9/10/2014	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
7/22/2014	0	COMMON COUNCIL	ASSIGNED TO

Number
140569
Version
ORIGINAL
Reference
130900
Sponsor
ALD. BOHL, MURPHY AND BAUMAN
Title
Resolution authorizing continued and increased use of real estate brokers to list, market and have limited management and monitoring responsibilities for tax-foreclosed residential property.
Analysis
This resolution removes the pilot status of the program established by Common Council File No. 130900 and allows further increased use of the program to use real estate brokers to list, market and have limited management and monitoring responsibilities for tax-foreclosed residential property and it increases the number of brokers that may be engaged for the program.
Body
Whereas, The Department of City Development (“DCD”) is, under Milwaukee Code of Ordinances (“MCO”) 308-1-2-k and 304-49, responsible for attending to the operation, maintenance and repair of in-rem parcels, including habitable neighborhood properties (as defined in MCO 304-49), until they are sold; and

Whereas, Common Council File No. 130900, adopted on November 26, 2013, authorized DCD to establish a nine-month trial/pilot program through which up to five real estate brokers would serve as selling/listing brokers for up to 100 tax-foreclosed residential properties in order to promote sales of such properties; and

Whereas, Common Council File No. 130900 directed DCD to report the results of the pilot program; and

Whereas, DCD’s Request for Qualifications (“RFQ”) process to solicit broker interest attracted responses from twenty real estate companies; and

Whereas, DCD evaluated the RFQ responses and selected the top five scoring brokers to participate in the pilot program; and

Whereas, As of mid-July, 2014, the five selected real estate brokers had sold 67 properties, with 18 accepted offers pending closing; and

Whereas, With the assistance of the selling/listing brokers, sales of tax-foreclosed residential properties during 2014 are on pace to reach a record annual total; and

Whereas, The sell...