City of Milwaukee - File #: 220911

• File #: 220911
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 10/11/2022
• In control: COMMON COUNCIL
• Final action: 11/1/2022
• Title: Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2917-23 North Holton Street, in the 6th Aldermanic District.
• Sponsors: ALD. COGGS
• Indexes: CITY PROPERTY, LAND DISPOSITION REPORTS, PROPERTY SALES

Date	Ver.	Action By	Action	Result	Tally
11/7/2022	0	MAYOR	SIGNED
11/1/2022	0	COMMON COUNCIL	ADOPTED	Pass	10:0
10/25/2022	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Rhonda Szallai, DCD Luis Lugo Tatiana Lugo Ald. Milele Coggs, 6th Ald. Dist.	Pass	5:0
10/11/2022	0	COMMON COUNCIL	ASSIGNED TO

Number
220911
Version
ORIGINAL
Reference
180182
Sponsor
ALD. COGGS
Title
Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2917-23 North Holton Street, in the 6th 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 304-49-9, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee (“City”) acquired 2917-23 North Holton Street (the “Property”) on September 8, 2016 through property tax foreclosure; and

Whereas, The Department of City Development (“DCD”) advertised the Property for sale on its website and through MLS; and

Whereas, Common Council File No. 180182 authorized an Exclusive Right to Negotiate with Riverwest Investment Cooperative (“RIC”) on May 30, 2018; and

Whereas, RIC withdrew its proposal to purchase on June 24, 2020; and

Whereas, DCD relisted the Property and received one proposal from Saifeddin y Khaddour to purchase and renovate the Property into eight residential units that failed to materialize; and

Whereas, DCD relisted the Property again and reviewed proposals on a continuous basis; and

Whereas, DCD staff evaluated a proposal from Tati Investments LLC, or its assignee (“Buyer”) and recommends approval to acquire and renovate the Property for use as an Artist Studio and Property Management Offices as summarized in the Land Disposition Report (“LDR”) and Due Diligence Checklist, copies of which are attached to this Common Council file; and

Whereas, The Buyer understands that the proposed project may require certain City approvals in addition to the approval of the LDR and closing will be contingent upon the Buyer obtaining all necessary approvals; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the LDR is approved and DCD is authorized to enter into a Purchase and Sale Agreement with t...