Number
220998
Version
ORIGINAL
Reference
Sponsor
ALD. MURPHY
Title
Resolution authorizing acceptance of an unsolicited offer to purchase from Terese Singh and John Johnson for the City-owned tax deed property located at 308 North 62nd Street, in the 10th Aldermanic District.
Analysis
This 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 308 North 62nd Street (Tax Key 40501560008) (the “Property”) was acquired by the City of Milwaukee (“City”) from Jody J. & Lisa A. Cook (“Former Owners”) through in rem property tax foreclosure in July of 2021; and
Whereas, Terese Singh and John Johnson (the “Buyers”) 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 Buyers; and
Whereas, The file sponsor recommends accepting the Buyer’s purchase price offer of $2,315.34, which represents the purchase price of $500 for raze properties and the departmental expenses; now, therefore, be it
Resolved, That DCD is authorized to accept an unsolicited offer to purchase the Property from the Buyers, provided that the Buyers meets the following conditions:
1. The offer price equals the sponsor of the file’s recommendation, which is $2,315.34.
2. The Buyers provide 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 Buyers pass all City’s standard buyers checks.
4. The Buyers close the ...
Click here for full text