Number
121426
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing a partial release of deed restrictions and forfeiture rights from a portion of the property at 2401 North 4th Street, in the 6th Aldermanic District.
Analysis
This resolution will release deed restrictions and forfeiture rights imposed by the City of Milwaukee that require use of the property as open space and prohibits division of and construction of any principal buildings on a portion of the property to allow a partial sale of the vacant lot to another property owner.
Body
Whereas, The City of Milwaukee (“City”) owned a tax-deed, vacant lot at 414 West Meinecke Avenue (“City Lot”) that adjoined 2401 North 4th Street, a duplex owned and renovated by the Neighborhood Improvement Development Corporation (“NIDC” or “NIDC Property”), and a tax delinquent house at 2409 North 4th Street; and
Whereas, The best use of the City Lot was to divide the lot and convey equal portions to the two adjoining owners to provide additional green space and alley access, but the tax delinquency by the owner of 2409 North 4th Street prevented the City from dividing the lot; and
Whereas, The City conveyed the full City Lot to NIDC by a quit claim deed dated October 8, 2012 (“City Deed”) and the City Lot and the NIDC Property are to be combined by the City Assessor this year into a single property (“Combined Property”); and
Whereas, The City Deed contained restrictions that the City Lot be used as open space, that no principal buildings may be erected thereon and that the City Lot be joined with the buyer's adjoining property to create a single parcel to be used as a unit (collectively “Deed Restrictions”); and
Whereas, The City Deed stated that the City Deed shall be forfeited and that the City Lot shall revert to City ownership in the event there is a breach of one or more of the Deed Restrictions (collectively, the “Forfeiture Rights”); and
Whereas, The Deed Restrictions and Forfe...
Click here for full text