City of Racine - File #: 13-8760

• File #: 13-8760
• Version: A
• Name: Request of the Director of City Development to accept the proposal of Land Quest Realty, LLC to acquire 2036 Grand Avenue (an NSP-3 property). (Res. No. 13-0161)
• Type: Communication
• Status: Passed
• File created: 3/19/2013
• In control: Loan Board of Review
• Final action: 4/3/2013
• Title: Subject: Request from the Director of City Development to accept the proposal of Land Quest Realty, LLC to acquire 2036 Grand Avenue (an NSP-3 property). (Res. No. 13-0161) Recommendation of the Loan Board of Review on March 21, 2013: to accept the proposal of Land Quest, LLC to purchase 2036 Grand Avenue for $44,000 subject to the conditions in the City's request for proposals, and that the Mayor, City Clerk and Director of City Development be authorized to execute any documents necessary to complete the sale. Fiscal Note: The property was acquired and rehabilitated through the NSP-3 program. The City will receive $44,000 in proceeds, minus closing costs.
• Related files: Res.13-0161

Date	Ver.	Action By	Action	Result
4/3/2013	A	Common Council	Approved as Presented	Pass
3/21/2013	A	Loan Board of Review	Approved	Pass

Title

Subject: Request from the Director of City Development to accept the proposal of Land Quest Realty, LLC to acquire 2036 Grand Avenue (an NSP-3 property). (Res. No. 13-0161)

Recommendation of the Loan Board of Review on March 21, 2013:  to accept the proposal of Land Quest, LLC to purchase 2036 Grand Avenue for $44,000 subject to the conditions in the City's request for proposals, and that the Mayor, City Clerk and Director of City Development be authorized to execute any documents necessary to complete the sale.

Fiscal Note:  The property was acquired and rehabilitated through the NSP-3 program.  The City will receive $44,000 in proceeds, minus closing costs.