Number
210329
Version
SUBSTITUTE 1
Sponsor
THE CHAIR
Title
Substitute resolution authorizing the return of real estate located at 4601 N 44th Street, in the 7th Aldermanic District to its former owner Asset Solutions LLC.
Analysis
This resolution authorizes the return of real estate locates at 4601 N 44th Street, in the 7th Aldermanic District to its former owner, Asset Solutions LLC, under conditions imposed by s. 304-50 of the Code of Ordinances.
Body
Whereas, The property located at 4601 N 44th Street, previously owned by Asset Solutions LLC, has delinquent taxes for 2018-2020 and was foreclosed upon pursuant to Sec. 75.521, Wis. Stats., and a fee simple absolute was obtained in favor of the City of Milwaukee dated March 24, 2021 210329; and
Whereas, Asset Solutions LLC would like to reclaim said property by paying all City and County real estate taxes, plus accrued interest and penalties to date of payment, and all costs as sustained by the City in the foreclosing and management of said property since March 24, 2021; and
Whereas, Asset Solutions LLC has agreed to pay all related city charges up until the point that the property is returned, as well as all other charges, and conditions which are detailed in the letters submitted by the Department of Neighborhood Services, Department of City Development, the Health Department, the Treasurer’s Office, and the City Attoney’s Office, as though set forth in this resolution; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that in order to return the property at 4601 N 44th Street, a cashier's check must be submitted in the amount indicated by the City Treasurer within thirty 30 days of the adoption of this resolution; and, be it
Further Resolved, That the City Attorney is then authorized to enter into a stipulation with the former owner to reopen and vacate the City's judgment in Milwaukee County Circuit Court Case No 20-CV-007046. Known as the 2020-2 In Rem Parcel 87, securing the court's order and recording said order with the Milwaukee County Register of Deeds; and, be it
Further Resolved, That if the current levy-year installment taxes and all prior levy-year delinquent taxes inclusive of accrued interest and penalties due through the month of payment, plus all related City charges incurred through date of payment, are not paid within 30 days of the adoption of this resolution, this process becomes null and void.
Drafter
CC CC
Joanna Polanco
7/1/2021