Number
010617
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. DONOVAN
Title
Substitute resolution declaring the vacant, tax-deed lot at 3614 West Lincoln Avenue surplus and authorizing the Department of City Development to advertise the lot for sale and accept Offers to Purchase for development, in the 8th Aldermanic District.
Analysis
This substitute resolution will result in the sale of a vacant, tax-deed lot for development.
Body
Whereas, The Department of City Development ("DCD") recommends that the vacant, tax-deed lot located at 3614 West Lincoln Avenue be advertised for sale with a minimum asking price of $4,200 for development; and
Whereas, Sale of said lot will be in an "as is" condition without representations or warranties including but not limited to soil quality and subsurface condition; and
Whereas, Acceptance of the highest and best use Offer to Purchase is contingent upon submittal, review and approval of site and building plans by the Department of City Development's Planning Division as well as submittal of evidence of having financing in place to complete development as proposed; and
Whereas, The City Plan Commission has determined that said lot is surplus to municipal needs; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that said lot is declared surplus; and, be it
Further Resolved, That DCD is authorized and directed to advertise said lot for sale, that the highest and best use Offer to Purchase may be accepted, that the proper City officials are authorized and directed to perform such acts as necessary to carry out the intent of this resolution, and that the proceeds from the sale, less a 15 percent development fee to the Redevelopment Authority of the City of Milwaukee, be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106.
Drafter
DCD-Real Estate
SS:ss
09/27/01