Number
021011
Version
ORIGINAL
Reference
Sponsor
ALD. MURPHY
Title
Resolution declaring the vacant, tax-deed lot located at 4026-28 West Clybourn Street surplus and accepting an Offer to Purchase from Daniel E. and JoAnn Waters for new residential construction, in the 16th Aldermanic District. (DCD-Real Estate)
Analysis
This resolution will result in the sale of a vacant, tax-deed lot for home-building purposes.
Body
Whereas, The Department of City Development ("DCD") openly advertised 4026-28 West Clybourn Street for two consecutive Sundays with the bid opening held on Tuesday, October 29, 2002; and
Whereas, DCD received one valid Offer to Purchase from Daniel E. and JoAnn Waters in the amount of $3,000 for owner-occupied, new residential construction; and
Whereas, DCD recommends acceptance of the Offer to Purchase, with the closing contingent upon site and building plan approval and submission of firm financing commitments; and
Whereas, Closing must occur within 90 days from Offer acceptance and construction must be completed within 9 months thereafter or property will revert to the City of Milwaukee with no further Common Council action necessary; and
Whereas, Said lot is to be sold in an "as is" condition without representations or warranties including but not limited to soil quality and subsurface condition, and the buyer shall be responsible for all site improvement and predevelopment costs; and
Whereas, The City Plan Commission has determined that there is no municipal need for said lot; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that said lot is declared surplus, that the Offer to Purchase from Daniel E. and JoAnn Waters is accepted, and that the proper City officials are authorized and directed to perform such acts as necessary to carry out the intent of this resolution with the proceeds from the sale, less a 15 percent development fee to the Redevelopment Authority of the Cit...
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