Number
180772
Version
ORIGINAL
Reference
180588
Sponsor
ALD. PEREZ
Title
Resolution amending the Land Disposition Report approved by Common Council File No. 180588 relating to the sale of the City-owned property at 2665-67 South 13th Street, in the 12th Aldermanic District.
Analysis
This resolution makes the following amendments to the Land Disposition Report relating to the sale of the City-owned property at 2665-67 South 13th Street to Laserfied Tattoo Removal LLC:
1. The purchase price is changed from $7,500 to $1,000.
2. The Buyer shall pay the special assessment letter charges and all other closing costs that may be applicable.
3. All sale proceeds shall be deposited in the Delinquent Tax Fund; previously, sale and marketing expenses and a 30 percent disposition fee to the Redevelopment Authority were to be subtracted before any proceeds were deposited in the Delinquent Tax Fund.
Body
Whereas, On July 31, 2018, the Common Council of the City of Milwaukee adopted File No. 180588, which authorized the sale of the City-owned property at 2665-67 South 13th Street to Laserfied Tattoo Removal LLC or it’s assignees; and
Whereas, File No. 180588 also approved a Land Disposition Report for the conveyance of the property; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the “PURCHASE TERMS AND CONDITIONS” section of the Land Disposition Report approved by Common Council File No. 180588 is amended as follows:
PURCHASE TERMS AND CONDITIONS
The purchase price is $1,000. The Buyer or assignee shall pay the special assessment letter charges and all other closing costs that may be applicable. The conveyance will be on an “as is, where is” basis. The deed of conveyance will contain a restriction prohibiting the Buyer or its successors or assignees from applying to the City for tax-exempt property status. At closing, the sale proceeds shall be deposited in the Delinquent Tax Fund.
Drafter
DCD:Dwayne.Edwards:dke
09/05/18/A