City of Milwaukee - File #: 160617

• File #: 160617
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 9/1/2016
• In control: COMMON COUNCIL
• Final action: 9/20/2016
• Title: Substitute resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2200-2220 West Michigan Street, in the 4th Aldermanic District.
• Sponsors: ALD. BAUMAN
• Indexes: LAND DISPOSITION REPORTS, PROPERTY SALES

Date	Ver.	Action By	Action	Result	Tally
9/23/2016	1	MAYOR	SIGNED
9/20/2016	1	COMMON COUNCIL	ADOPTED	Pass	14:0
9/13/2016	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Matt Haessly, Department of City Development Peter Ogden, Washfountain, LLC	Pass	5:0
9/12/2016	1	CITY CLERK	DRAFT SUBMITTED
9/7/2016	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/6/2016	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/6/2016	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/1/2016	0	COMMON COUNCIL	ASSIGNED TO

Number
160617
Version
SUBSTITUTE 1
Reference
160616
Sponsor
ALD. BAUMAN
Title
Substitute resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2200-2220 West Michigan Street, in the 4th Aldermanic District.
Analysis
This substitute resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Sections 304-49-5 and 304-49-8, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee (“City”) acquired a parking lot at 2200-2220 West Michigan Street (“Property”) on December 2, 2013 through property tax foreclosure; and

Whereas, Washfountain, LLC (“Buyer”), a Limited Liability Company wholly-owned by Peter Ogden, has submitted an unsolicited Offer to Purchase the Property to use as a customer and employee parking lot as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and

Whereas, Section 304-49-8 of the Milwaukee Code of Ordinances allows the City to accept unsolicited Offers to Purchase property when the City receives fair compensation, whether monetary or non-monetary; and

Whereas, The Department of City Development (“DCD”) has reviewed the offer and the development proposal and has determined that the offer and proposal represent fair compensation to the City in terms of the purchase price and investment in the neighborhood; and

Whereas, The Buyer is concurrently seeking resolution approval authorizing an agreement between the Buyer and the City concerning assignment under Wisconsin Statutes 75.106 of the City’s right to Wisconsin Statutes 75.521 in-rem foreclosure judgment against 2203 West Michigan Street, which is under consideration in Common Council File No. 160616; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the Buyer’s Offer to Purchase the Property, which is contingent upon Common Council approval of File No. 160616,...