City of Racine - File #: 09-3493

• File #: 09-3493
• Version: A
• Name: Sale of 1130 Washington Ave
• Type: Communication
• Status: Passed
• File created: 4/20/2009
• In control: Redevelopment Authority of the City of Racine
• Final action: 6/16/2009
• Title: Subject: (Direct Referral) Sale of 1130 Washington Avenue for redevelopment. Recommendation of the Redevelopment Authority on 5-6-09: That a 90-day option on 1130 Washington Avenue be granted to Abdo Markethouse, LLC. Recommendation of the Redevelopment Authority on 6-3-09: To reaffirm the selection of Abdo Markethouse, LLC granting them a 90-day option on 1130 Washington Avenue. Fiscal Note: Sale price for the property will be $70,000 and will be specified in the development agreement. The developer's costs associated with the option are estimated at $1,153.00 based on 2007-08 expenses.

Date	Ver.	Action By	Action	Result
6/16/2009	A	Common Council	Approved as Presented	Pass
6/3/2009	A	Redevelopment Authority of the City of Racine	Recommended For Approval	Pass
5/19/2009	A	Common Council	Referred	Pass
5/6/2009	A	Redevelopment Authority of the City of Racine	Recommended For Approval	Pass

Title

Subject: (Direct Referral) Sale of 1130 Washington Avenue for redevelopment.

Recommendation of the Redevelopment Authority on 5-6-09: That a 90-day option on 1130 Washington Avenue be granted to Abdo Markethouse, LLC.

Recommendation of the Redevelopment Authority on 6-3-09: To reaffirm the selection of Abdo Markethouse, LLC granting them a 90-day option on 1130 Washington Avenue.

Fiscal Note: Sale price for the property will be $70,000 and will be specified in the development agreement.  The developer's costs associated with the option are estimated at $1,153.00 based on 2007-08 expenses.