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File #: 12-7778    Version: A Name: 1511 Washington Avenue Propsal (Res. No. 12-3332)
Type: Communication Status: Passed
File created: 5/30/2012 In control: Redevelopment Authority of the City of Racine
On agenda: Final action: 9/18/2012
Title: Subject: (Direct Referral) Communication from Ryan Douglas submitting a proposal for the Redevelopment Authority owned property at 1511 Washington Avenue. Recommendation of the Redevelopment Authority on 9-4-12: That pursuant to section 66.1333(9)(a)1.d., Wisconsin Statutes, the Common Council approve the action of the Authority granting a three-month option on the property at 1511 Washington Avenue to Ryan Douglas of LandQuest of Wisconsin. (Res. No. 12-3333) Fiscal Note: 1511 Washington Avenue was offered through a Request for Proposals (RFP) for one dollar ($1.00) contingent on the purchaser having a redevelopment plan consistent with the Uptown Plan. The option will allow Mr. Douglas to further refine his designs and cost estimates, negotiate financing from lenders and other funding sources, and obtain any necessary regulatory approvals. The Authority will receive a $1,000.00 earnest money option fee.
Attachments: 1. RDA Res. 12-10
Related files: Res.12-3332
Title
Subject: (Direct Referral) Communication from Ryan Douglas submitting a proposal for the Redevelopment Authority owned property at 1511 Washington Avenue.
 
Recommendation of the Redevelopment Authority on 9-4-12: That pursuant to section 66.1333(9)(a)1.d., Wisconsin Statutes, the Common Council approve the action of the Authority granting a three-month option on the property at 1511 Washington Avenue to Ryan Douglas of LandQuest of Wisconsin. (Res. No. 12-3333)
 
Fiscal Note: 1511 Washington Avenue was offered through a Request for Proposals (RFP) for one dollar ($1.00) contingent on the purchaser having a redevelopment plan consistent with the Uptown Plan.  The option will allow Mr. Douglas to further refine his designs and cost estimates, negotiate financing from lenders and other funding sources, and obtain any necessary regulatory approvals.  The Authority will receive a $1,000.00 earnest money option fee.