City of Racine - File #: Res.12-3415

• File #: Res.12-3415
• Version: A
• Name: Acquire Non-Residential Real Estate
• Type: Resolution
• Status: Passed
• File created: 11/7/2012
• In control: City Attorney's Office
• Final action: 11/7/2012
• Title: Acquire Non-Residential Real Estate Resolved, that the Redevelopment Authority recommends that the Common Council, pursuant to Sec. 66.1333 (5)(b) Wis. Stats., authorize and direct the Redevelopment Authority to acquire the property at 233 Lake Avenue (the Property). Further resolved, that the Redevelopment Authority is directed to exercise its due diligence in the acquisition of the Property. Further resolved, that the Common Council provide funds for deed transfer costs, and not less than $70,000 for related annual site holding costs. The Authority recommends that Intergovernmental Revenue Sharing Funds be used for this purpose, and that the Authority be informed of progress towards the acquisition of the Property. Fiscal Note: Funds are available in the accounts identified for this purpose.
• Sponsors: Q.A. Shakoor II
• Related files: 12-8103

Date	Ver.	Action By	Action	Result
11/7/2012	A	Common Council	Adopted	Pass

Sponsor

Alderman Shakoor

Title

Acquire Non-Residential Real Estate

Resolved, that the Redevelopment Authority recommends that the Common Council, pursuant to Sec. 66.1333 (5)(b) Wis. Stats., authorize and direct the Redevelopment Authority to acquire the property at 233 Lake Avenue (the Property).

Further resolved, that the Redevelopment Authority is directed to exercise its due diligence in the acquisition of the Property.

Further resolved, that the Common Council provide funds for deed transfer costs, and not less than $70,000 for related annual site holding costs. The Authority recommends that Intergovernmental Revenue Sharing Funds be used for this purpose, and that the Authority be informed of progress towards the acquisition of the Property.

Fiscal Note: Funds are available in the accounts identified for this purpose.