powered help
header-left header-center header-right
Share to Facebook Share to Twitter Bookmark and Share
File #: 210335    Version:
Type: Resolution Status: Placed On File
File created: 6/15/2021 In control: COMMON COUNCIL
On agenda: Final action: 1/18/2022
Effective date:    
Title: Substitute resolution authorizing settlement of claims in the adversary proceeding entitled City Wide Investments, LLC v. City of Milwaukee, U.S. Bankruptcy Court Eastern District of Wisconsin, Case No. 17-22900, Adv. No. 17-02115.
Sponsors: THE CHAIR
Indexes: CLAIMS PAYMENT
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
1/18/20221 COMMON COUNCIL PLACED ON FILEPass14:0 Action details Meeting details Not available
11/15/20211 JUDICIARY & LEGISLATION COMMITTEE RECOMMENDED FOR PLACING ON FILE

Minutes note: Per the request of ACA Hannah Jahn, this item was taken care via Finance and Personnel file back in September.
Pass3:2 Action details Meeting details Not available
6/25/20211 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
6/15/20210 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
210335

Version
Substitute 1

Reference

Sponsor
THE CHAIR

Title
Substitute resolution authorizing settlement of claims in the adversary proceeding entitled City Wide Investments, LLC v. City of Milwaukee, U.S. Bankruptcy Court Eastern District of Wisconsin, Case No. 17-22900, Adv. No. 17-02115.

Analysis
This resolution authorizes settlement of claims raised by Debtor, City Wide Investments, LLC, in the adversary proceeding entitled City Wide Investments, LLC v. City of Milwaukee, U.S. Bankruptcy Court Eastern District of Wisconsin, Case No. 17-22900, Adv. No. 17-02115 (“Adversary Proceeding”), for the total amount of $191,235.18, inclusive of interest.

Body
Whereas, the Debtor filed an Adversary Proceeding against the City on April 26, 2017. Trial of the Adversary Proceeding took place on September 19, 2017. The bankruptcy court issued a decision and order in favor of the Debtor and against the City on October 3, 2017, and judgment was entered in the amount of $280,894.56 for the Debtor and against the City the same day;
and

Whereas, on appeal, the bankruptcy court judgment was affirmed by the United States District Court for the Eastern District of Wisconsin, and

Whereas, the City has already paid the Debtor the amount of $100,808.30, and

Whereas, the City currently owes the Debtor judgment principal of $180,106.26 plus $11,128.92 in interest through August 31, 2021, for a total owed of $191,235.18, and

Whereas, the City possesses claims against the Debtor for delinquent real estate taxes for the following properties (“Debtor Properties”):

Tax Key Address Amount Owed as of 8/31/21
4670707000 2258 S Chase Ave $59,182.94
5070899000 3039 S 7th St $29,420.12
4971120000 2335 S 7th St $31,186.27
4690628000 2214 S 15th St $26,177.82
4692711000 2146 S 16th St $ 545.98
4590734000 1725 S 24th St $22,253.82
4600142000 1313-1315 W Rogers St $30,789.85

Including interest (and not taking into account any future payments b...

Click here for full text