Resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 4417 North 27th Street, in the 1st Aldermanic District.

Summary

This resolution approves the sale of a city-owned property at 4417 North 27th Street to Milwaukee Custom Coatings, LLC for $20,000. The property, a 4,381 sq ft commercial warehouse built in 1950, was acquired by the city through tax foreclosure in November 2024. The buyer plans to renovate the building for a prefabrication and light manufacturing business, specializing in artistic coatings for glass, wood, and metal. The project includes an estimated $210,000 in rehabilitation costs, with the buyer aiming to create four full-time and two part-time positions with wages ranging from $15 to $27 per hour. The sale is contingent on the buyer obtaining necessary permits and approvals, with a completion deadline for renovations and Certificate of Occupancy by March 15, 2027.

Citizen Impact

The sale of this property will lead to the renovation of a commercial building and the creation of new local jobs. The buyer is restricted from seeking tax-exempt status, ensuring the property will remain taxable, contributing to city revenue.

Confidence

high