241358
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution authorizing settlement of claims in the lawsuit entitled U.S. Venture, Inc. v. City of Milwaukee
Analysis
This resolution authorizes settlement of claims raised by Plaintiff, U.S. Venture, Inc., in the lawsuits entitled U.S. Venture, Inc. v. City of Milwaukee, Milwaukee County Case No. 2016CV5637 and 2022CV3425, for the total amount of $351,560.92.
Body
Whereas, Plaintiff filed a lawsuit against the City entitled U.S. Venture, Inc. v. City of Milwaukee, Milwaukee County Case No. 2016CV5637, for the partial refund of property tax previously paid, which includes claims that the 2015-2020 property tax assessments for their bulk petroleum storage terminal facilities were excessive. The facilities’ current addresses and tax keys are as follows: 9125 North 107th Street (Tax Key 0029996210) and 9401-9521 North 107th Street (Tax Key 0020071110) (“the Properties”); and
Whereas, Plaintiff filed a lawsuit against the City entitled U.S. Venture, Inc. v. City of Milwaukee, Milwaukee County Case No. 2022CV3425, for the partial refund of property tax previously paid, which includes claims that the 2021-2023 property tax assessments for the Properties, were excessive; and
Whereas, Plaintiff has similar objections to the 2024 assessment of the Properties and further litigation is imminent; and
Whereas, Plaintiff has agreed to settle the claims raised in the above-referenced lawsuit and pending objection for the total amount of $351,560.92, and
Whereas, as part of the parties’ proposed settlement of pending claims the City will adjust the assessments of the Properties for 2024 and plaintiff will withdraw the objection for 2024; and
Whereas, as part of the parties’ proposed settlement of pending claims the plaintiff agrees not to file an objection for 2025; and
Whereas, the City Attorney recommends that the City of Milwaukee settle this lawsuit and resolve these claims now...
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