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File #: 191560    Version: 0
Type: Resolution Status: Passed
File created: 1/21/2020 In control: COMMON COUNCIL
On agenda: Final action: 3/24/2020
Effective date:    
Title: Resolution authorizing the sale of the City-owned tax deed property at 4113-15 West North Avenue, in the 15th Aldermanic District.
Sponsors: ALD. STAMPER
Indexes: CITY PROPERTY, PROPERTY SALES
Attachments: 1. Land Disposition Report and Due Diligence Checklist, 2. Fiscal Impact Statement, 3. Hearing Notice List
Number
191560

Version
ORIGINAL

Reference

Sponsor
ALD. STAMPER

Title
Resolution authorizing the sale of the City-owned tax deed property at 4113-15 West North Avenue, in the 15th Aldermanic District.

Analysis
This resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-5 and 304-49-8, Milwaukee Code of Ordinances.

Body
Whereas, The City of Milwaukee (“City”) acquired 4113-15 West North Avenue (the “Property”), through property tax foreclosure on July 14, 2014 through property tax foreclosure; 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 Flanagan Realty Company, LLC (the “Buyer”), 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, or assignee, 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 cost reimbursement to the Redevelopment Authority of the City of Milwaukee, shall be credited to the Delinquent Tax Fund.

Dra...

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