Number
010926
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution declaring surplus and authorizing the sale of the improved, tax-deed property at 3429 North Richards Street, in the 6th Aldermanic District. (DCD)
Analysis
This resolution authorizes the sale of said property to a nonprofit organization for affordable housing purposes.
Body
Whereas, The Neighborhood Improvement Development Corporation, a nonprofit organization, has offered to purchase said property for $1.00 for affordable housing purposes and eventual sale to an owner-occupant; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that 3429 North Richards Street, Tax Key No. 282-9977-000-3, is declared surplus and that the Department of City Development is authorized and directed to sell said property to the Neighborhood Improvement Development Corporation at a fixed price of $1.00; and, be it
Further Resolved, That the proper City officials are authorized and directed to perform such acts as may be required to consummate the sale of said property and that the proceeds be credited to the Reserve For Tax Deficit Fund Account No. 0001-334106; and, be it
Further Resolved, That in the event the purchaser is unable to consummate the sale of said property, it will automatically transfer to disposition via the open listing method with an asking price of $14,300 without any further Common Council action; and, be it
Further Resolved, That as a condition of the sale of surplus property, purchaser is required to bring property into compliance with applicable building codes within the time specified by the Department of Neighborhood Services or said property may revert back to the ownership of the City of Milwaukee upon action by the Common Council.
Drafter
DCD:KT:kt
11/06/01/C