City of Milwaukee - File #: 200248

• File #: 200248
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 6/16/2020
• In control: COMMON COUNCIL
• Final action: 7/7/2020
• 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
• Indexes: CITY PROPERTY, PROPERTY SALES

Date	Ver.	Action By	Action	Result	Tally
7/17/2020	0	MAYOR	SIGNED
7/7/2020	0	COMMON COUNCIL	ADOPTED	Pass	15:0
6/30/2020	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Yves LaPierre, Dept. of City Development Ald. Mark Borkowski, 11th Ald. Dist.	Pass	5:0
6/26/2020	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
6/26/2020	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
6/25/2020	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
6/25/2020	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
6/16/2020	0	COMMON COUNCIL	ASSIGNED TO

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 standard buyer checks.

4) The Buyer closes the sale no later than August 31, 2020 following the certification of this file; and, be it

Further Resolved, That if the sale does not close by August 31, 2020, the offer shall be deemed to be rejected; and, be it

Further Resolved, That upon sale closing, sale proceeds will be distributed as required by MCO 304-49-12.

Drafter

DCD:Yves.LaPierre:ysl

06/16/20/B