Number
001389
Version
SUBSTITUTE 1
Sponsor
THE JUDICIARY AND LEGISLATION COMMITTEE
Title
Substitute resolution authorizing the return of real estate located at 2544-46 N. 35th St., in the 7th Aldermanic District of the City of Milwaukee to its former owner upon payment of all city and county tax liens and any special improvement bonds, with all interest and penalty thereon and all costs as sustained by the City in foreclosing and managing said real estate. (Fairbanks Capital Corporation)
Analysis
Permits return of property owned by the City under conditions imposed by Ordinance File Number 901739, passed by the Common Council on July 28, 1992.
Body
Whereas, The property located 2544-46 N. 35th St., tax key number 326-1507-8 previously owned by Fairbanks Capital Corporation, has delinquent taxes for 1998 - 2000 and was foreclosed upon pursuant to Sec. 75.521, Wis. Stats., and a fee simple absolute was obtained in favor of the City of Milwaukee dated May 7, 2001; and
Whereas, Fairbanks Capital Corporation, would like to reclaim said property by paying all City and County real estate taxes, plus accrued interest and penalties to date of payment, and all costs as sustained by the City in the foreclosing and management of said property since May 7, 2001; and
Whereas, The Department of Neighborhood Services indicates currently no unabated orders exist on this property; and
Whereas, The City Treasurer's records show outstanding 1998 - 2000 taxes, plus interest, penalties and costs; and
Whereas, The Department of City Development reports that this property is not suitable for use by a public agency or community based organization. Said property is occupied but no rent has been collected and administrative costs have been incurred totalling $450. Various costs in the amount of $131.57 were also incurred by the Department for miscellaneous repairs; and
Whereas, The Health Department reported no outstanding orders or notices, and no clea...
Click here for full text