City of Racine - File #: Res.0041-16

• File #: Res.0041-16
• Version: A
• Name: Twin Properties, LLC Purchase of 1547 S. Memorial Drive
• Type: Resolution
• Status: Passed
• File created: 2/2/2016
• In control: City Attorney's Office
• On agenda: 2/2/2016
• Final action: 2/2/2016
• Title: Twin Properties, LLC Purchase of 1547 S. Memorial Drive Resolved, that the request by the Interim Director of City Development to accept the offer to purchase 1547 S. Memorial Drive by Twin Properties LLC is approved. Further resolved, that the Mayor, the City Clerk, and the Interim Director of City Development are authorized to execute any documents necessary to complete the sale. Fiscal Note: This property was received through a foreclosure action. The City will receive $32,750.00 in proceeds from the sale, minus commissions and closing costs. Funds to be returned to CDBG loan fund account #20404.
• Sponsors: Mary Land
• Related files: 0059-16

Date	Ver.	Action By	Action	Result
2/2/2016	A	Common Council	Approved as Presented

Sponsor

Alderman Land

Title

Twin Properties, LLC Purchase of 1547 S. Memorial Drive

Resolved, that the request by the Interim Director of City Development to accept the offer to purchase 1547 S. Memorial Drive by Twin Properties LLC is approved.

Further resolved, that the Mayor, the City Clerk, and the Interim Director of City Development are authorized to execute any documents necessary to complete the sale.

Fiscal Note: This property was received through a foreclosure action. The City will receive $32,750.00 in proceeds from the sale, minus commissions and closing costs. Funds to be returned to CDBG loan fund account #20404.