Number
000659
Version
ORIGINAL
Reference
991622
Sponsor
THE CHAIR
Title
Resolution authorizing acceptance of the secondary Offer to Purchase submitted for the surplus, vacant, City-owned lot located at 7126 North 45th Street for new home construction, in the 9th Aldermanic District. (DCD-Real Estate)
Analysis
This resolution will result in the sale of a vacant, City-owned lot for new residential construction.
Body
Whereas, Common Council File No. 991662 adopted on February 29, 2000, declared said lot surplus and authorized its sale to Rachel and Torlan Triplett for new home construction; and
Whereas, Rachel and Torlan Triplett have cancelled their Offer to Purchase; and
Whereas, The Department of City Development received a secondary Offer to Purchase from Jessie L. Williams and Curlie M. Williams for construction of an owner-occupied, single-family home in the amount of $10,050; and
Whereas, The Department of City Development recommends acceptance of said secondary Offer, contingent upon the following:
1. Closing must occur within ninety days from the date of adoption of this resolution.
2. Buyers must obtain approval of building and site plans by the Department of City Development.
3. Financial commitment must be in place to complete construction as proposed.
4. Construction must commence no later than twelve months from the date of closing or property will automatically revert back to the City of Milwaukee's ownership with no further action necessary; and
Whereas, If any contingencies are not met by Mr. and Mrs. Williams, the Department of City Development may accept an Offer to Purchase which meets all requirements in this resolution from any other qualified buyer; and
Whereas, Said lot is being sold in an "as is" condition and the City of Milwaukee makes no representations as to the condition of the lot including, but not limited to soil or subsoil condition; and
Whereas, The City Plan Commission has approved the acceptance of said Offer, the sale of said lot to be consummated in the manner provided for in the sale of other City-owned/tax-deed lots pursuant to Section 304-49 of the Milwaukee Code of Ordinances; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that said secondary Offer to Purchase is accepted, that the proper City officials are authorized and directed to perform such acts as may be required to consummate the sale of said lot in accordance with the above contingencies and that the proceeds be credited to the Reserve for General City Revenue Fund Account No. 0001-983014.
Drafter
DCD-Real Estate
SS:rmf
09/06/00/F