Number
160700
Version
ORIGINAL
Reference
150493
Sponsor
ALD. JOHNSON AND BOHL
Title
Resolution canceling real estate taxes levied against certain parcels sold to Veterans Gardens, LLC, for levy year 2015.
Analysis
This resolution cancels 2015 property taxes, plus delinquent interest and penalties, for the properties located at 7829-7831 West Villard Avenue, 8905-8911 West Villard Avenue and 9009 West Villard Avenue, in the 2nd Aldermanic District, and 4483-4493 North 84th Street, in the 5th Aldermanic District, owned by the Center for Veterans Issues, Ltd.
Body
Whereas, The City of Milwaukee (“City”) and Veterans Gardens, LLC (“VG”) entered into an Agreement for Sale dated December 3, 2014, recorded with the Milwaukee County Register of Deeds on December 10, 2014 as Document No. 10418355 (“Sale Agreement”), that obligated VG to acquire four properties at 7829-7831 West Villard Avenue, 8905-8911 West Villard Avenue, 9009 West Villard Avenue and 4483-4493 North 84th Street (collectively the “Property”) and to rehabilitate the Property to provide 20 units of supportive and affordable housing for homeless, disabled veterans (“Project”) using funds provided in part from the U.S. Department of Housing and Urban Development (“HUD”); and
Whereas, The City conveyed the Property to VG by Quit Claim Deed and Restrictive Covenants (“Deed”) dated December 11, 2014, recorded with the Milwaukee County Register of Deeds on December 17, 2014 as Document No. 10420636; and
Whereas, The City entered into an Agreement to Amend an Agreement for Sale, Declare Restrictive Covenants and Release Deed Restrictions (“Amended Agreement”) with VG, recorded with the Milwaukee County Register of Deeds on October 16, 2015 as Document No. 10508127; and
Whereas, The Amended Agreement was required by HUD to subordinate City restrictive covenants allowing HUD to release a $500,000 supportive housing grant (“Grant”); and
Whereas, In consideration for the Amended Agreement terms require...
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