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File #: 200248    Version: 0
Type: Resolution Status: Passed
File created: 6/16/2020 In control: COMMON COUNCIL
On agenda: Final action: 7/7/2020
Effective date:    
Title: Resolution authorizing acceptance of an unsolicited offer to purchase from David R. Storey for the City-owned tax deed property located at 3845 West Forest Home Avenue, in the 11th Aldermanic District.
Sponsors: ALD. BORKOWSKI
Attachments: 1. Land Disposition Report and Due Diligence Checklist, 2. Fiscal Impact Statement, 3. Hearing Notice List
Number
200248

Version
ORIGINAL

Reference

Sponsor
ALD. BORKOWSKI

Title
Resolution authorizing acceptance of an unsolicited offer to purchase from David R. Storey for the City-owned tax deed property located at 3845 West Forest Home Avenue, in the 11th Aldermanic District.

Analysis
This 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 property at 3845 West Forest Home Avenue(tax key 511-0109-00-4) (“Property”) was acquired by the City from David R. Storey (“Former Owner”) through in rem property tax foreclosure on February 21, 2019; and

Whereas, David R. Storey (“Buyer”) is the Former Owner, and desires to purchase the Property from the City; and

Whereas, The Buyer was unable to apply to vacate the judgment of foreclosure due to the expiration of the deadline; and

Whereas, Section 304-49-8 of the Milwaukee Code of Ordinances (“MCO”) allows the City to accept unsolicited offers to purchase property when the City receives fair compensation, whether monetary or non-monetary; and

Whereas, The Common Council of the City of Milwaukee (“Common Council”)desires to authorize the sale of the Property to the Buyer; and

Whereas, The file sponsor recommends accepting the Buyer’s purchase price offer of $42,461.25 which represents the taxes due at the time of foreclosure and departmental expenses; now, therefore, be it

Resolved, That the Department of City Development (“DCD”) is authorized to accept an unsolicited offer to purchase the Property from the Buyer, provided that the Buyer meets the following conditions:

1) The offer price equals the sponsor of the file’s recommendation, which is $42,461.25.

2) The Buyer provides documented evidence of financial ability to pay the full sales price at closing, and understands that the evidence will be verified by DCD.

3) The Buyer passes all City’s stand...

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