City of Racine - File #: Res.0353-17

• File #: Res.0353-17
• Version: A
• Name: WHP-Lincoln School, LLC - Subordinate a Mortgage Note Held by the City of Racine
• Type: Resolution
• Status: Passed
• File created: 10/16/2017
• In control: City Attorney's Office
• On agenda: 10/16/2017
• Final action: 10/16/2017
• Title: WHP-Lincoln School, LLC - Subordinate a Mortgage Note Held by the City of Racine Resolved, that the request from WHP-Lincoln School, LLC to subordinate a mortgage note held by the City of Racine is approved. Further resolved, that the Mayor and City Clerk be authorized to enter into the subordination agreement. Fiscal note: The 2007 mortgage note for $145,704 is forgiven at 1/14th per year over a fourteen year period.
• Sponsors: Mary Land
• Related files: 1001-17

Date	Ver.	Action By	Action	Result
10/16/2017	A	Common Council	Approved as Presented	Pass

Sponsor

Alderman Land

Title

WHP-Lincoln School, LLC - Subordinate a Mortgage Note Held by the City of Racine

Resolved, that the request from WHP-Lincoln School, LLC to subordinate a mortgage note held by the City of Racine is approved.

Further resolved, that the Mayor and City Clerk be authorized to enter into the subordination agreement.

Fiscal note:  The 2007 mortgage note for $145,704 is forgiven at 1/14^th per year over a fourteen year period.