City of Racine - File #: 11-6269

• File #: 11-6269
• Version: A
• Name: Request of Assistant Director, Joseph Heck to accept Ms. Erica Knudsen's offer to purchase 1017 Augusta Street (NSP property).
• Type: Communication
• Status: Passed
• File created: 4/7/2011
• In control: Loan Board of Review
• Final action: 5/3/2011
• Title: Subject: Request of Assistant Director, Joseph Heck to accept Ms. Erica Knudsen's offer to purchase 1017 Augusta Street (NSP property). (Res.11-2539) Recommendation of the Loan Board of Review on 4-13-11: That the request be approved. Further, the Mayor, City Clerk, and Assistant Director of City Development are authorized to execute any necessary selling documents. Fiscal Note: Proceeds from the sale will be $50,000 minus closing costs. Under the provisions of the Choose Racine program, the Buyer will execute a $44,900 secured mortgage and promissory note whose terms will be satisfied after the Buyer has occupied the property for five years.
• Related files: Res.11-2539

Date	Ver.	Action By	Action	Result
5/3/2011	A	Common Council	Approved as Presented	Pass
4/13/2011	A	Loan Board of Review	Recommended For Approval	Pass

Title

Subject: Request of Assistant Director, Joseph Heck to accept Ms. Erica Knudsen's offer to purchase 1017 Augusta Street (NSP property).  (Res.11-2539)

Recommendation of the Loan Board of Review on 4-13-11: That the request be approved. Further, the Mayor, City Clerk, and Assistant Director of City Development are authorized to execute any necessary selling documents.

Fiscal Note: Proceeds from the sale will be $50,000 minus closing costs. Under the provisions of the Choose Racine program, the Buyer will execute a $44,900 secured mortgage and promissory note whose terms will be satisfied after the Buyer has occupied the property for five years.