Number
180101
Version
SUBSTITUTE 1
Reference
150642
Sponsor
ALD. STAMPER
Title
Substitute resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 3907-09 West Vliet Street, in the 15th 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 3907-09 West Vliet Street (the “Property”) through property tax foreclosure on October 8, 2012; and
Whereas, On September 22, 2015, the Common Council of the City of Milwaukee approved the sale of the Property via File No. 150642, but that sale did not close; and
Whereas, The Department of City Development (“DCD”) has continued to advertise the Property for sale on its website and through MLS; and
Whereas, DCD has continued to accept offers until another acceptable offer was received and DCD recommends acceptance of the proposal from MR Home Improvement LLC (“Buyer”), or assignee, to acquire and redevelop the Property as summarized in a Land Disposition Report and a 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 the Buyer, or assignee, materially consistent with the Land Disposition Report, and then convey the Property to the Buyer 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 Resol...
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