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File #: 190939    Version:
Type: Resolution Status: Placed On File
File created: 9/24/2019 In control: COMMON COUNCIL
On agenda: Final action: 12/17/2019
Effective date:    
Title: Substitute resolution relating to the sale of the City-owned tax deed property located at 2903-05 North 48th Street, in the 7th Aldermanic District.
Sponsors: ALD. RAINEY
Indexes: CITY PROPERTY, PROPERTY SALES
Attachments: 1. DCD Response, 2. Attachments 1 through 7, 3. Attachment 8 photos, 4. Hearing Notice List, 5. Stephanie H Attachments 1-10.pdf, 6. Stephanie H Detailed Timelne.pdf, 7. Stephanie H Response to DCD Real Estate.pdf
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
12/17/20192 COMMON COUNCIL PLACED ON FILEPass15:0 Action details Meeting details Not available
12/10/20192 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR PLACING ON FILEPass5:0 Action details Meeting details Video Video
12/4/20192 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
10/29/20191 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
10/29/20191 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE SUBSTITUTED

Minutes note: Ald. Perez moved substitution of the file with Proposed Substitute A. (Prevailed 4-0)
Pass4:0 Action details Meeting details Video Video
10/29/20192 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HELD TO CALL OF THE CHAIR

Minutes note: Ald. Stamper joined the committee at 9:07 a.m. Individuals appearing: Martha Brown, Dept. of City Development Amy Turim, Dept. of City Development Stephanie Holt Gregg Hagopian, City Attorney's Office
Pass5:0 Action details Meeting details Not available
10/24/20190 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
10/24/20190 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
10/24/20190 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
10/24/20190 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/24/20190 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available

Number

190939

Version

SUBSTITUTE 2

Reference

 

Sponsor

ALD. RAINEY

Title

Substitute resolution relating to the sale of the City-owned tax deed property located at 2903-05 North 48th Street, in the 7th Aldermanic District.

Analysis

This resolution authorizes the sale of City-owned Neighborhood Property located at 2903-05 North 48th Street, in the 7th Aldermanic District in accordance with the $2,500 offer negotiated with Stephanie Holt.

 

Body

Whereas, Stephanie Holt has conducted extensive research into the value of the City-owned property located at 2903-05 North 48th Street, in the 7th Aldermanic District, during the course of Ms. Holt’s efforts to buy this property; and

 

Whereas, Ms. Holt maintains the scope of work to rehab this property exceeds the projected market value of the property after rehab; and

 

Whereas, Ms. Holt has negotiated a $2,500 offer to buy this City-owned property; now, therefore, be it

 

Resolved, By the Common Council of the City of Milwaukee, that the $2,500 offer negotiated with Stephanie Holt for the property at 2903-05 N 48th is accepted; and, be it

 

Further Resolved, That the Commissioner of DCD, or the Commissioner’s designee, is authorized to execute an Offer to Purchase, deed and all needed closing documents, including any needed easements and/or releases of deed restrictions; and, be it

 

Further Resolved, That if the sale does not close by February 28, 2020, the negotiated sale shall be deemed null and void; and, be it

 

Further Resolved, That any sale proceeds, less all sale and marketing expenses and a 30 percent disposition fee paid to the Redevelopment Authority of the City of Milwaukee, shall be credited to the Delinquent Tax Fund as required by s. 304-49-12 of the Code of Ordinances.

 

Requestor

 

Drafter

LRB 175104 - 2

Aaron Cadle

October 29, 2019