City of Racine - File #: 12-8103

• File #: 12-8103
• Version: A
• Name: Request of the Director of City Development to acquire non-residential real estate. (Res. No. 12-3415)
• Type: Communication
• Status: Passed
• File created: 8/29/2012
• In control: Redevelopment Authority of the City of Racine
• Final action: 11/7/2012
• Title: Subject: (Direct Referral) Request of the Director of City Development to acquire non-residential real estate. (Res. No. 12-3415) Recommendation of the Redevelopment Authority on 10-24-12: That the Redevelopment Authority recommends that the Common Council, pursuant to sec. 66.1333 (5) (b) Wis. Stats., authorize and direct the Redevelopment Authority to acquire the property at 233 Lake Avenue (the Property). Further, that the Redevelopment Authority be directed to exercise its due diligence in the acquisition of the Property. Further, that the Common Council provide funds for deed transfer costs, and not less than $70,000 for related annual site holding costs. The Authority recommends that Intergovernmental Revenue Sharing Funds be used for this purpose, and that the Authority be informed of progress towards the acquisition of the Property. Fiscal Note: Funds are available in the accounts identified for this purpose.
• Related files: Res.12-3415

Date	Ver.	Action By	Action	Result
11/7/2012	A	Common Council	Approved as Presented	Pass
10/24/2012	A	Redevelopment Authority of the City of Racine	Recommended For Approval	Pass
9/24/2012	A	Redevelopment Authority of the City of Racine	Received and Filed
9/4/2012	A	Redevelopment Authority of the City of Racine	Deferred	Pass

Title

Subject: (Direct Referral)  Request of the Director of City Development to acquire non-residential real estate. (Res. No. 12-3415)

Recommendation of the Redevelopment Authority on 10-24-12: That the Redevelopment Authority recommends that the Common Council, pursuant to sec. 66.1333 (5) (b) Wis. Stats., authorize and direct the Redevelopment Authority to acquire the property at 233 Lake Avenue (the Property).

Further, that the Redevelopment Authority be directed to exercise its due diligence in the acquisition of the Property.

Further, that the Common Council provide funds for deed transfer costs, and not less than $70,000 for related annual site holding costs.  The Authority recommends that Intergovernmental Revenue Sharing Funds be used for this purpose, and that the Authority be informed of progress towards the acquisition of the Property.

Fiscal Note: Funds are available in the accounts identified for this purpose.