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File #: 190546    Version: 0
Type: Resolution Status: Passed
File created: 7/9/2019 In control: COMMON COUNCIL
On agenda: Final action: 7/30/2019
Effective date:    
Title: Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 3953 North 76th Street, in the 5th Aldermanic District.
Sponsors: ALD. DODD
Attachments: 1. Land Disposition Report and Due Diligence Checklist, 2. Fiscal Impact Statement, 3. Hearing Notice List
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
8/8/20190 MAYOR SIGNED   Action details Meeting details Not available
7/30/20190 COMMON COUNCIL ADOPTEDPass13:0 Action details Meeting details Video Video
7/23/20190 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Individuals appearing: Dwayne Edwards, Dept. of City Development Annette Veasey, S.M.I.L.E. Inc. Myron Duckworth, S.M.I.L.E. Inc. Ald. Nikiya Dodd, 5th Ald. Dist.
Pass3:0 Action details Meeting details Video Video
7/17/20190 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
7/17/20190 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
7/9/20190 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
190546
Version
ORIGINAL
Reference

Sponsor
ALD. DODD
Title
Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 3953 North 76th Street, in the 5th 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 3953 North 76th Street (the “Property”) through property tax foreclosure on November 14, 2011; 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 acceptance of the proposal from S.M.I.L.E. Inc. (“Buyer”), or its 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, 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 the Department of City Development, or designee, is authorized to sign the Purchase and Sale Agreement, deed and requisite closing documents and to close the transaction and 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 Delinquent Tax Fund.
Drafter
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