Sponsor
Alderman Maack
Title
Agreement with E.G. Developments, LLC to acquire property at 1425 North Memorial Drive
Resolved, that the Mayor and City Clerk be authorized and directed to enter into an agreement with E.G. Developments, LLC regarding the former Racine Steel Castings property at 1425 North Memorial Drive.
Further resolved, that the Redevelopment Authority be authorized to accept the transfer of the property from the City.
Fiscal Note: The $15,000.00 for utility connections is available in the "208" Industrial Development Fund. The $316,000 to satisfy the purchase agreement will be included in the city's long-range capital improvements budget.