Ald. Michael Murphy
Press Release

Nonprofits can buy city-owned foreclosures for $1, additional marketing to continue

Qualifying nonprofit organizations will be allowed to purchase certain cityowned, tax-foreclosed properties for one dollar.

By - Sep 23rd, 2014 04:38 pm

Qualifying nonprofit organizations will be allowed to purchase certain cityowned, tax-foreclosed properties for one dollar, under legislation approved today by the Milwaukee Common Council and authored by President Michael J. Murphy, with the co-sponsorship of Council Members Russell W. Stamper II, Robert Bauman, Willie C. Wade, Nik Kovac and Ashanti Hamilton.

At the same time, efforts to market such properties will receive additional support from private real estate brokers. Alderman Murphy said other adopted legislation that he co-sponsored will expand a pilot program that has met with significant success.

“I’m glad to see this pilot program exceeding our expectations,” Alderman Murphy said. “Using real estate brokers to market the city’s stock of foreclosed properties has turned out to be an excellent example of a public-private partnership with the potential to benefit property owners citywide.”

Last November, the Common Council directed the Department of City Development to establish a nine-month trial program that would select five real estate brokers to market up to 100 tax-foreclosed properties. DCD reported that, as of mid-July, the real estate brokers selected in a Request for Qualifications had sold 67 properties, with 18 more offers accepted pending closing.

Recent Press Releases by Ald. Michael Murphy

Council approves amended bus rapid transit resolution

Legislation protects city taxpayers and city priorities

FPC Directive on MPD pursuit policy appropriate, necessary

News release and related documents from Alderman Michael J. Murphy

DNR scale-back at State Fair sad, but no surprise

Statement of 10th District Alderman Michael J. Murphy - June 21, 2017

Leave a Reply

Your email address will not be published. Required fields are marked *