Number
151680
Version
ORIGINAL
Reference
Sponsor
ALD. BOHL
Title
Resolution regarding the sale of tax foreclosed neighborhood property to the former owner-occupant in lieu of vacation of the foreclosure.
Analysis
This resolution details the procedure to be followed if the former owner-occupant of a neighborhood property acquired by the City of Milwaukee through property tax foreclosure wishes to purchase the property in lieu of vacation of the foreclosure.
Body
Whereas, MCO 304-50 directs the procedure to be followed when a former owner of record seeks to vacate an in-rem judgment affecting his or her property; and
Whereas, On occasion, the former owner may seek to purchase the property from the City of Milwaukee (“City”); and
Whereas, The general buyer policies enumerated in MCO 304-49-9 specify that Common Council authorization is required to sell a property to a buyer who, at any time within the past 5 years, lost property to the City by means of in-rem foreclosure; and
Whereas, The Common Council finds that benefits may accrue to the surrounding neighborhood if a former owner-occupant of a neighborhood property is permitted to repurchase the property; and
Whereas, The Common Council finds that a standardized procedure for the sale of a tax-foreclosed neighborhood property to a former owner-occupant is needed to ensure fairness; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the subject standardized procedure, a copy of which is attached to this Common Council File, shall be followed to effectuate the sale of neighborhood property to a former owner-occupant; and, be it
Further Resolved, That this procedure shall apply only to such sales; and, be it
Further Resolved, That if the Common Council does not approve the sale of the property to the former owner-occupant, the Common Council shall act upon the request to vacate the foreclosure judgment.
Drafter
DCD:Martha.Brown:mlb
03/01/16/B