Number
211506
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. PEREZ
Title
Substitute resolution authorizing acceptance of an unsolicited offer to purchase from Luis Alberto Lugo Rivera for the City-owned tax deed property located at 1338 West Elgin Lane, in the 12th Aldermanic District.
Analysis
This substitute 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 1337 West Washington Street (Tax Key 43301150009) (“Property”) was acquired by the City of Milwaukee (“City”) from Blasino Gonzalez (“Former Owner”) through in rem property tax foreclosure in July of 2016; and
Whereas, Luis Alberto Lugo Rivera (“Buyer”) desires to purchase the Property from the City; and
Whereas, The Department of City Development (“DCD”) recommended that the property be marketed for sale; 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 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 $3,715.00 which represents the taxes due at the time of foreclosure and departmental expenses; now, therefore, be it
Resolved, That 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 $3,715.00.
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 la...
Click here for full text