City of Racine - File #: Res.15-0471

• File #: Res.15-0471
• Version: A
• Name: Development Agreement and Deed Restriction for 410 Main Street
• Type: Resolution
• Status: Passed
• File created: 12/15/2015
• In control: City Attorney's Office
• On agenda: 12/15/2015
• Final action: 12/15/2015
• Title: Development Agreement and Deed Restriction for 410 Main Street WHEREAS, in 2005 a deed restriction was recorded by the RDA against the property requiring that no transfer of the property at 410 Main Street occur before an occupancy permit is received for the first floor; and WHEREAS, the property has remained vacant since 2005 and the deed restriction has become an impediment to the redevelopment of the Property by blocking the pending sale of the Property. NOW THEREFORE, upon the RDA's recommendation, the deed restriction described herein and recorded against the property at 410 Main Street shall be removed. Fiscal Note: All costs associated with removal of the restriction from the deed will be borne by the petitioner.
• Sponsors: James Morgenroth
• Related files: 15-00954

Date	Ver.	Action By	Action	Result
12/15/2015	A	Common Council

Sponsor

Alderman Morgenroth

Title

Development Agreement and Deed Restriction for 410 Main Street

WHEREAS, in 2005 a deed restriction was recorded by the RDA against the property requiring that no transfer of the property at 410 Main Street occur before an occupancy permit is received for the first floor; and

WHEREAS, the property has remained vacant since 2005 and the deed restriction has become an impediment to the redevelopment of the Property by blocking the pending sale of the Property.

NOW THEREFORE, upon the RDA's recommendation, the deed restriction described herein and recorded against the property at 410 Main Street shall be removed.

Fiscal Note: All costs associated with removal of the restriction from the deed will be borne by the petitioner.