Number
191164
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. PEREZ
Title
Substitute resolution authorizing acceptance of an unsolicited offer to purchase from Epifanio E.C. Sandoval for the City-owned tax deed property located at 1428A West Madison Street, in the 12th Aldermanic District.
Analysis
This substitute resolution authorizes the sale of City-owned Neighborhood Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-8 of the Milwaukee Code of Ordinances.
Body
Whereas, The City acquired the tax deed property at 1428A West Madison Street (the “Property”) on January 15, 2019; and
Whereas, Epifanio E.C. Sandoval (the “Buyer”) has submitted an unsolicited offer to purchase the Property and rehabilitate it as summarized in a Land Disposition Report, a copy of which is attached to this Common Council File; and
Whereas, Section 304-49-4.5 of the Milwaukee Code of Ordinances (“MCO”) allows the City of Milwaukee ("City") to accept unsolicited offers with the approval of the Common Council; and
Whereas, Section 304-49-8 of the MCO allows the City to sell properties when the City receives fair compensation, whether monetary or non-monetary; and
Whereas, The Buyer’s offer of $1,000 represents fair compensation for the Property due to the Property being a rear house dependent on a front house that is owned by the Buyer for water supply; and
Whereas, The Buyer has provided proof of funds at the time of the offer to purchase which will be verified prior to closing; and
Whereas, The Buyer has passed all of the City’s standard buyer checks; and
Whereas, The Buyer seeks to purchase the Home as a rental property so that the two homes with connected water supply are in common ownership; and
Whereas, The Department of City Development (“DCD”) has reviewed the Buyer’s offer and has determined that the offer represents fair compensation to the City; now, therefore, be it
Resolved, By the Common Council of the City of Milwau...
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