HomeMy WebLinkAbout07-131
MAY 22,2007
07-131
RESOLUTION
(CARRIED 7-0
LOST
LAID OVER
WITHDRAWN
PURPOSE:
AUTHORIZE ACQUISITION /29 WEST TENNESSEE AVENUE
INITIATED BY:
DEPARTMENT OF COMMUNITY DEVELOPMENT
WHEREAS, in 1994 a housing improvement project was undertaken by the City
on the property at 29 W. Tennessee Avenue utilizing Federal Community Development
Block Grant (CDBG) dollars and a mortgage was placed on the property; and
WHEREAS, one of the conditions of the mortgage is that the mortgage is not
repaid unless the original mortgagee, Agnes Wucki, sells the house or no longer lives at
the property; and
WHEREAS, the original mortgagee passed away in 2003 and staff has made
numerous attempts to resolve this matter with Ms. Wucki's decedents to no avail; and
WHEREAS, the City initiated foreclosure proceedings and said property will be
for sale at an upcoming Sheriff's sale; and
WHEREAS, the Department of Community Development desires to bid on the
property at the Sheriff's sale with the intent of reselling the property to recoup the
mortgage amount and expenses of foreclosure; and
WHEREAS, staff requests that a not to exceed amount of Twenty-Six Thousand
Four Hundred Twenty-Seven Dollars and 14/100 ($26,427.14) be authorized to bid on
said property.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the proper City officials are hereby authorized and directed to bid on the
property at 29 W. Tennessee Ave. at the upcoming Sheriff's sale in an amount not to
exceed Twenty-Six Thousand Four Hundred Twenty-Seven Dollars and 14/100
($26,427.14).
BE IT FURTHER RESOLVED that the proper City officials are authorized and
directed to execute all documents necessary to consummate this transaction.
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