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File #: 180588    Version: 0
Type: Resolution Status: Passed
File created: 7/10/2018 In control: COMMON COUNCIL
On agenda: Final action: 7/31/2018
Effective date:    
Title: Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2665-67 South 13th Street, in the 12th Aldermanic District.
Sponsors: ALD. PEREZ
Indexes: LAND DISPOSITION REPORTS, PROPERTY SALES
Attachments: 1. Land Disposition Report, 2. Fiscal Impact Statement, 3. Due Diligence Checklist, 4. Hearing Notice List
Number
180588

Version
ORIGINAL
Reference

Sponsor
ALD. PEREZ
Title
Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2665-67 South 13th Street, in the 12th Aldermanic District.
Analysis
This 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 2665-67 South 13th Street (the “Property”) through property tax foreclosure on September 8, 2016; and

Whereas, The Department of City Development (“DCD”) advertised the Property for sale on its website and through MLS; and

Whereas, DCD accepted offers on a continuous basis until an acceptable offer was received and DCD recommends sale to Laserfied Tattoo Removal LLC (the “Buyer”), Juan Bucio is the sole manager and member, 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 Resolved, That the sale proceeds, less sale and marketing expenses and a 30 percent disposition fee to the Redevelopment Authority of the City of Milwaukee, shall be credited to the Delin...

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