City of Milwaukee - File #: 151563

• File #: 151563
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 2/9/2016
• In control: COMMON COUNCIL
• Final action: 3/1/2016
• Title: Resolution authorizing an agreement between Phoenix Citation LLC and the City of Milwaukee concerning assignment under Wisconsin Statutes 75.106 of the City’s right to Wisconsin Statutes 75.521 in-rem foreclosure judgment against 4041-51 North 27th Street, in the 1st Aldermanic District.
• Sponsors: ALD. HAMILTON
• Indexes: CONTRACTS, FORECLOSURES

Date	Ver.	Action By	Action	Result	Tally
3/8/2016	0	MAYOR	SIGNED
3/1/2016	0	COMMON COUNCIL	ADOPTED	Pass	13:0
2/22/2016	0	JUDICIARY & LEGISLATION COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Matt Haessly - DCD Real Estate Kail Decker - ACA	Pass	5:0
2/11/2016	0	JUDICIARY & LEGISLATION COMMITTEE	HEARING NOTICES SENT
2/9/2016	0	COMMON COUNCIL	ASSIGNED TO

Number
151563
Version
ORIGINAL
Reference

Sponsor
ALD. HAMILTON
Title
Resolution authorizing an agreement between Phoenix Citation LLC and the City of Milwaukee concerning assignment under Wisconsin Statutes 75.106 of the City’s right to Wisconsin Statutes 75.521 in-rem foreclosure judgment against 4041-51 North 27th Street, in the 1st Aldermanic District.
Analysis
This resolution authorizes a contract between Phoenix and the City pursuant to which the City will assign its right to in-rem foreclosure judgment on 4041-51 North 27th Street to Phoenix so that Phoenix may raze the dilapidated buildings, remediate the property, as the WDNR may require, and improve the property for future development.
Body
Whereas, The property located at 4041-51 North 27th Street (“Property”) (i) is now owned by 27th Street Industrial LLC, which shares common ownership with Phoenix Citation LLC (“Phoenix”), (ii) was recently acquired by 27th Street Industrial LLC to take control of the criminal element and disorder at the Property caused by the preceding owner, who neglected to monitor the Property, (iii) is property tax-delinquent for years 2012-2015, and (iv) is per City of Milwaukee (“City”) belief, a brownfield; and

Whereas, The City and Phoenix believe that the Property is environmentally impacted or a “brownfield,” based on historical land use, Wisconsin Department of Natural Resources (“WDNR”) records and/or other limited investigations that have been performed; and

Whereas, Phoenix, whose managing member is David M. Marks, wishes to use the brownfield redevelopment tool available under Wisconsin Statutes 75.106 to acquire the Property via City assignment of the City’s right to a Wisconsin Statutes 75.521 in-rem foreclosure judgment; and

Whereas, Department of City Development (“DCD”), Real Estate staff, requested that the City commence an in-rem foreclosure action against the Property and the City has included the Property in its 2015 No. 5 In-Rem File, Milwaukee...