City of Racine - File #: Res.11-2539

• File #: Res.11-2539
• Version: A
• Name: Offer to purchase 1017 Augusta Street (NSP property) be approved
• Type: Resolution
• Status: Passed
• File created: 5/3/2011
• In control: City Attorney's Office
• Final action: 5/3/2011
• Title: Offer to purchase 1017 Augusta Street (NSP property) be approved Resolved, that the offer to purchase 1017 Augusta Street (NSP property) be approved, as agreed between the City of Racine and the Buyer. Further resolved, that the Mayor, City Clerk, and Assistant Director of City Development are authorized and directed to execute any necessary selling documents. Fiscal Note: Proceeds from the sale will be $50,000 minus closing costs. Under the provisions of the Choose Racine Program, the Buyer will execute a $44,900 secured mortgage and promissory note whose terms will be satisfied after the Buyer has occupied the property for five years.
• Sponsors: Dennis Wiser
• Related files: 11-6269

Date	Ver.	Action By	Action	Result
5/3/2011	A	Common Council	Adopted	Pass

Sponsor

Alderman Wiser

Title

Offer to purchase 1017 Augusta Street (NSP property) be approved

Resolved, that the offer to purchase 1017 Augusta Street (NSP property) be approved, as agreed between the City of Racine and the Buyer.

Further resolved, that the Mayor, City Clerk, and Assistant Director of City Development are authorized and directed to execute any necessary selling documents.

Fiscal Note:  Proceeds from the sale will be $50,000 minus closing costs.  Under the provisions of the Choose Racine Program, the Buyer will execute a $44,900 secured mortgage and promissory note whose terms will be satisfied after the Buyer has occupied the property for five years.