Number
140999
Version
ORIGINAL
Reference
Sponsor
ALD. STAMPER
Title
Resolution authorizing the sale of the City-owned tax deed properties at 3020 West Fond du Lac Avenue and 3026 West Fond du Lac Avenue to Nunez Enterprises, LLC, or assignee, in the 15th Aldermanic District.
Analysis
This resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-5 and 304-49-7, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee (“City”) acquired 3020 West Fond du Lac Avenue through property tax foreclosure in 2011 and 3026 West Fond du Lac Avenue through property tax foreclosure in 1987; and
Whereas, The Department of City Development (“DCD”) advertised the former auto repair shop for sale; and
Whereas, DCD received and reviewed one proposal by the established deadline and recommends acceptance of the proposal from Nunez Enterprises, LLC, or assignee, to acquire and redevelop the properties as summarized in a Land Disposition Report and Due Diligence Checklist, copies of which are attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report is approved and that DCD is authorized to enter into a Purchase and Sale Agreement with Nunez Enterprises, LLC, or assignee, materially consistent with the Land Disposition Report and then convey the properties at 3020 West Fond du Lac Avenue and 3026 West Fond du Lac Avenue to Nunez Enterprises, LLC, or assignee, in accordance therewith; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign the Purchase and Sale Agreement, deed and requisite closing documents and to close the transaction and to take such actions as may be needed to effectuate the terms of the Land Disposition Report and this resolution; and, be it
Further Resolved, That the sale proceeds, less sale expenses and a 30 percent di...
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