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File #: 200131    Version: 0
Type: Resolution Status: Passed
File created: 5/27/2020 In control: COMMON COUNCIL
On agenda: Final action: 6/16/2020
Effective date:    
Title: Resolution authorizing $325,000 from the 2020 Common Council Contingent Fund to be transferred to the Remission of Taxes Special Purpose Account for expenditures relating to the remission of taxes for a settlement payment to CP-South Howell LLC et al.
Sponsors: THE CHAIR
Attachments: 1. Hearing Notice List
Number
200131

Version
ORIGINAL

Reference

Sponsor
THE CHAIR

Title
Resolution authorizing $325,000 from the 2020 Common Council Contingent Fund to be transferred to the Remission of Taxes Special Purpose Account for expenditures relating to the remission of taxes for a settlement payment to CP-South Howell LLC et al.

Analysis
Common Council File Number 200101 authorizes settlement of claims against the City of Milwaukee in two lawsuits entitled CP-South Howell LLC et al. v. City of Milwaukee, Milwaukee County Case Nos. 2017CV2152 and 2019CV4218. The City will fund the settlement using the Remission of Taxes Special Purpose Account; however, the settlement amount exceeds the available balance in the Remission of Taxes Special Purpose Account. The City will fund $325,000 of the settlement amount using the Contingent Fund.

Body
Whereas, Common Council File Number 200101 authorizes the settlement of claims against the City of Milwaukee in the lawsuits entitled CP-South Howell LLC et al. v. City of Milwaukee, Milwaukee County Case Nos. 2017CV2152 and 2019CV4218.

Whereas, the agreed-upon $507,000 settlement amount exceeds the available balance in the Remission of Taxes Special Purpose Account (0001-9990-S163-006300); and

Whereas, the 2020 Budget of the City of Milwaukee authorized a Common Council Contingent Fund for purposes not contemplated at the time the budget was adopted; and

Whereas, The City desires to use up to $325,000 dollars of the 2020 Common Council Contingent Fund to fund this settlement; and

Whereas, Statutory chargebacks by the Wisconsin Department of Revenue to other taxation districts should provide reimbursement to the City of approximately two-thirds of this expenditure in early 2021; and now therefore be it

Resolved, By the Common Council of the City of Milwaukee, that an amount of $325,000 be appropriated from the 2020 Common Council Contingent Fund Account No. 0001-9990-C001-006300 and placed within the 2020 Remission ...

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