Number
050299
Version:
SUBSTITUTE 1
Reference
Sponsor
ALD. D'AMATO
Title:
A substitute resolution relative to the delinquent property taxes for 2320 West Burleigh Street
Analysis
This resolution authorizes cancellation of 2002 through 2004 property taxes against 2320 West Burleigh to enable the COA Youth & Family Centers to acquire the property from the Milwaukee Police Athletic League, Inc. as part of a Bankruptcy-Court-ordered transaction, thereby allowing MPS to continue to occupy the facility for classroom space.
Body:
Whereas, 2320 West Burleigh Street (the "Property"), tax key number 285-2251-000-0, is currently owned by the Milwaukee Police Athletic League, Inc. ("PAL"), and that property is currently property-tax delinquent for tax years 2002 through 2004 with the June, 2005 payout amount being $301,991.60; and
Whereas, Despite being notified by the City Assessor's Office, PAL neglected, for each of the years 2002 through 2004, to file a property-tax-exemption-application form to apply for a property-tax exemption under Wis. Stat. § 70.11 as is required by the preamble to that statute (PAL having acquired the Property in May of 2001 from the City of Milwaukee); and
Whereas, In all likelihood, if PAL would have timely and properly filed a property-tax-exemption-application form, the Property may have very well qualified for property-tax-exemption for years 2002-2004, as PAL did file a property-tax-exemption application for year 2005 and the Assessor did exempt the Property for year 2005; and
Whereas, PAL filed for bankruptcy protection and currently has a bankruptcy action pending in the United States Bankruptcy Court for the Eastern District of Wisconsin, Case No. 05-22644-SVK; and
Whereas, In the Bankruptcy Court case, PAL filed a motion for authority to sell the Property outside the ordinary course of business pursuant to Bankruptcy Code § 363 (11 U.S.C. 363), and PAL moved the Court for approval of a sale to the h...
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