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File #: 200380    Version: 0
Type: Resolution Status: Passed
File created: 7/7/2020 In control: COMMON COUNCIL
On agenda: Final action: 9/22/2020
Effective date:    
Title: Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2718 West Atkinson Avenue, in the 1st Aldermanic District.
Sponsors: ALD. HAMILTON
Indexes: CITY PROPERTY, LAND DISPOSITION REPORTS, PROPERTY SALES
Attachments: 1. Land Disposition Report and Due Diligence Checklist, 2. Fiscal Impact Statement, 3. Hearing Notice List
Number
200380
Version
ORIGINAL
Reference

Sponsor
ALD. HAMILTON

Title
Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2718 West Atkinson Avenue, in the 1st Aldermanic District.

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

Body
Whereas, The City of Milwaukee (“City”) acquired 2718 West Atkinson Avenue (the “Property”) through property tax foreclosure on July 15, 2015; and

Whereas, Antoinette R. Jackson (the “Buyer”) has submitted an unsolicited Offer to Purchase the Property and rehabilitate it as summarized in a Land Disposition Report and a Due Diligence Checklist, copies of which are attached to this Common Council File; and

Whereas, Section 304-49-8 of the Milwaukee Code of Ordinances allows the City to accept unsolicited Offers to Purchase property when the City receives fair compensation, whether monetary or non-monetary; and

Whereas, The Department of City Development (“DCD”) has reviewed the offer and the development proposal from the Buyer and has determined that the offer and proposal represent fair compensation to the City in terms of the purchase price and investment in the neighborhood; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the offer submitted by the Buyer is accepted; 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 fee to the Redevelopment Authority of the City of Milwaukee, shall be cre...

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