Number
100816
Version
SUBSTITUTE 1
Sponsor
THE CHAIR
Title
Substitute resolution authorizing the return of real estate located at 5861 N. 71st St., in the 2nd Aldermanic District to its former owner. (HSBC Bank USA National Association)
Analysis
Permits return of property owned by the City under conditions imposed by s. 304-50, Milw. Code of Ordinances
Body
Whereas, The property located at 5861 N. 71st St., previously owned by HSBC Bank USA National Association, has delinquent taxes for 2007-2009
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 July 26100816; and
Whereas, HSBC Bank USA National Association 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 July 26; and
Whereas, HSBC Bank USA National Association has agreed to pay all related city charges up until the point that the property is returned, as well as all charges and conditions which are detailed in the letters submitted by the Department of Neighborhood Services, Department of City Development, the Health Department and the Treasurer’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 5861 N. 71st St., a cashier's check must be submitted in the amount indicated by the City Treasurer within thirty (30) calendar 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. 10CV005385 known as the 2010-01 In Rem Parcel 54, securing the court's order and recording said order with the Milwaukee County Register of Deeds; and, be it
Further Resolved, That if the above delinquent taxes, interest, and penalties are not paid within thirty (30) calendar days of the adoption of this resolution, this process becomes null and void.
Drafter
CC CC
lme
11/8/10