Number
131772
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing settlement of Walgreen Co. v. City of Milwaukee in the amount of $3,747,541.
Analysis
This resolution authorizes the settlement of all outstanding excessive assessment claims and lawsuits against the City by Walgreen Co. Milwaukee County Case No. 11CV12120.
Body
Whereas, The City of Milwaukee has assessed various Walgreens stores in the City of Milwaukee for the years 2010-2013; and
Whereas, Walgreens has objected to those assessments as excessive; and
Whereas, Walgreens has filed Wis. Stats. sec. 74.37 lawsuits against the City; and
Whereas, The City and Walgreens have exchanged professional appraisal reports; and
Whereas, There have been court decisions in other jurisdictions that have rejected the same appraisal method used by the City; and
Whereas, The City and Walgreens have each decided to compromise their claims against the other; and
Whereas, The City will refund property taxes to Walgreens of $3,747,541 in return for a full release of all Walgreens pending claims against the City; and
Whereas, The City will recoup approximately 68% of its tax refund to Walgreens from the other taxing jurisdictions; now, therefore, be it
Resolved, That the City Assessor and the City Attorney are authorized to obtain and execute an appropriate settlement and release from Walgreens; and, be it
Further Resolved, That the Comptroller is authorized to refund property taxes in the amount of $3,747,541 to Walgreens in exchange for the settlement and release.
Requestor
City Attorney
Drafter
Vincent D. Moschella
Deputy City Attorney
March 27, 2014
201732/1056-2011-2260
Clerical Correction -- JRO -- 04/08/14