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File #: 07-0859    Version: Name: Pointe Blue redevelopment project
Type: Communication Status: Passed
File created: 6/27/2007 In control: Loan Board of Review
On agenda: 6/28/2007 Final action: 6/28/2007
Title: Subject: Request from Pointe Blue redevelopment project for a City loan guarantee Recommendation of the Loan Board on 6-28-07: That the City of Racine guarantee a loan from First Wisconsin Bank & Trust to Key Bridge Group, Inc., said guarantee not to exceed $750,000 for a term of three years. Further recommends that the appropriate city officials be authorized to execute a Limited Guarantee of Specific Transaction documenting said guarantee. Fiscal Note: The quarantee is not an expenditure of funds. It will be recorded as a liability against the housing loan portfolio, account 820, until the expiration of the guarantee.
Attachments: 1. Limited Guaranty Memo.pdf
Related files: Res.07-0319
Title
Subject: Request from Pointe Blue redevelopment project for a City loan guarantee
 
Recommendation of the Loan Board on 6-28-07: That the City of Racine guarantee a loan from First Wisconsin Bank & Trust to Key Bridge Group, Inc., said guarantee not to exceed $750,000 for a term of three years.
 
Further recommends that the appropriate city officials be authorized to execute a Limited Guarantee of Specific Transaction documenting said guarantee.
 
Fiscal Note: The quarantee is not an expenditure of funds. It will be recorded as a liability against the housing loan portfolio, account 820, until the expiration of the guarantee.