City of Racine - File #: Res.07-0319

• File #: Res.07-0319
• Version: A
• Name: Pointe Blue Redevelopment Project Request for City Loan Guarantee
• Type: Resolution
• Status: Passed
• File created: 7/3/2007
• In control: City Attorney's Office
• Final action: 7/3/2007
• Title: Pointe Blue Redevelopment Project Request for City Loan Guarantee Resolved, 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 resolved, that the appropriate city officials be authorized to execute a Limited Guarantee of Specific Transaction documenting said guarantee. Fiscal Note: The guarantee 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.
• Sponsors: Jim Kozina
• Related files: 07-0859

Date	Ver.	Action By	Action	Result
7/3/2007	A	Common Council	Adopted	Pass

Sponsor

Alderman Kaplan

Title

Pointe Blue Redevelopment Project Request for City Loan Guarantee

Resolved, 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 resolved, that the appropriate city officials be authorized to execute a Limited Guarantee of Specific Transaction documenting said guarantee.

Fiscal Note: The guarantee 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.