City of Milwaukee - File #: 041066

• File #: 041066
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 11/23/2004
• In control: JUDICIARY & LEGISLATION COMMITTEE
• Final action: 12/21/2004
• Title: Resolution authorizing an agreement between the City of Milwaukee and MZA Property Investors, LLC for assignment under Wisconsin Statute Section 75.106 of the City's right to an in rem foreclosure judgment against 1120 South Barclay Street in the 12th Aldermanic District (DCD-Real Estate)
• Sponsors: THE CHAIR
• Indexes: AGREEMENTS, ENVIRONMENT, IN REM JUDGMENTS

Date	Ver.	Action By	Action	Result	Tally
12/23/2004	0	MAYOR	SIGNED
12/21/2004	0	COMMON COUNCIL	ADOPTED	Pass	15:0
12/13/2004	0	JUDICIARY & LEGISLATION COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	5:0
12/2/2004	0	JUDICIARY & LEGISLATION COMMITTEE	HEARING NOTICES SENT
11/30/2004	0	JUDICIARY & LEGISLATION COMMITTEE	HEARING NOTICES SENT
11/23/2004	0	COMMON COUNCIL	ASSIGNED TO

Number
041066
Version
ORIGINAL
Reference

Sponsor
THE CHAIR
Title
Resolution authorizing an agreement between the City of Milwaukee and MZA Property Investors, LLC for assignment under Wisconsin Statute Section 75.106 of the City's right to an in rem foreclosure judgment against 1120 South Barclay Street in the 12th Aldermanic District (DCD-Real Estate)
Analysis
This resolution directs property-tax foreclosure against 1120 South Barclay Street so assignment of the foreclosure judgment to a developer, MZA Property Investors, LLC, may occur so the property may be remediated, improved, and placed in tax-paying ownership.
Body
Whereas, Ann Jennaro Zingale owns tax-delinquent property at 1120 South Barclay Street ("Parcel"); and

Whereas, The City of Milwaukee ("City") and MZA Property Investors, LLC ("MZA") believe that the Parcel may be environmentally impacted or a "brownfield" based on historical land use and other limited investigations that have been done; and

Whereas, MZA wishes to use the brownfield-redevelopment tool available under Wisconsin Statute Section 75.106 to acquire the Parcel via City assignment of the City's right to a Wisconsin Statute Section 75.521 in rem foreclosure judgment; and

Whereas, The City Attorney, in consultation with the Department of City Development ("DCD"), drafted a "75.106 In Rem Assignment Contract" ("75.106 Contract"), a copy of which is attached to this Common Council File, governing the specifics of the transaction; and

Whereas, MZA wishes to enter into the 75.106 Contract and to accept assignment of the City's in rem foreclosure rights in exchange for: compensating the City as called for in the Contract; paying all unforeclosed tax-roll amounts and charges; remediating the Parcel if required by the Wisconsin Department of Natural Resources; and developing and improving the Parcel; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the 75.106 Contract ...