Title
From the Manager of Real Estate Services, DTPW, offer to purchase on a County-owned vacant lot located at 5478 South Packard Avenue, Cudahy, Wisconsin.
Body
Offer to purchase on County-owned vacant land located at 5478 South Packard Avenue, Cudahy, Wisconsin.
POLICY ISSUE:
County Board Resolution File No. 11-14 was established by the County Board Chairperson relative to offers-to-purchase on lands under County control.
BACKGROUND:
The Real Estate Division of the Department of Transportation and Public Works received an Offer to Purchase on vacant land located at 5478 South Packard Avenue in the City of Cudahy. A copy of the offer as well as an exhibit depicting the location of the property is attached.
The subject property measures 40' X 120', contains 4,800 square feet of land area and is zoned B-2 for business development. The property has been declared excess to County needs and made available for sale.
An appraisal of the property by an independent appraiser estimated the fair market value of the property to be $19,200.
The cash offer is from Patrick Wiita in the amount of $18,000 cash. The offer is contingent upon Mr. Wiita obtaining an appraisal, at his expense, that indicates the value of the property is at least $18,000.
RECOMMENDATION:
Staff respectfully requests that the Committee on Economic and Community Development recommend to the County Board of Supervisors acceptance of the above-described offer from Patrick Wiita in the amount of $18,000.
FISCAL NOTE:
Sale proceeds less expenses will be deposited in the Sale of Capital Assets Account 5804-4905.
Craig C. Dillmann, Manager
Real Estate Services
Meeting Date: April 11, 2011
Attachments
cc: Marvin Pratt, County Executive
Supervisor Patricia Jursik, District 8