City of Racine - File #: 1003-25

• File #: 1003-25
• Version: A
• Type: Communication
• Status: Committee Report To Council
• File created: 9/26/2025
• In control: Community Development Authority
• Title: Subject: Communication from the Assistant Director of City Development, through Resolution 25-18, related to property owned by River's End Marina, LLC, located at 90 Reichert Court, for potential acquisition by the Community Development Authority of the City of Racine (CDA) for blight elimination and redevelopment and that the CDA acquire such property notwithstanding that it is not in an existing redevelopment area. Recommendation of the Community Development Authority on 09-29-2025: That the Common Council find that a comprehensive redevelopment plan is not necessary to determine the need for the acquisition of the real estate at 90 Reichert Court by the Community Development Authority of the City of Racine, the uses of the property after acquisition, and the relation of the acquisition to other property redevelopment by the Community Development Authority of the City of Racine. Fiscal Note: The potential purchase price from the property owner has not been determined at this time. ...

Title

Subject: Communication from the Assistant Director of City Development, through Resolution 25-18, related to property owned by River's End Marina, LLC, located at 90 Reichert Court, for potential acquisition by the Community Development Authority of the City of Racine (CDA) for blight elimination and redevelopment and that the CDA acquire such property notwithstanding that it is not in an existing redevelopment area.

Recommendation of the Community Development Authority on 09-29-2025: That the Common Council find that a comprehensive redevelopment plan is not necessary to determine the need for the acquisition of the real estate at 90 Reichert Court by the Community Development Authority of the City of Racine, the uses of the property after acquisition, and the relation of the acquisition to other property redevelopment by the Community Development Authority of the City of Racine.

Fiscal Note: The potential purchase price from the property owner has not been determined at this time. Transfer of the property will require $30.00 in recording fees. All future proceeds from the redevelopment and sale, minus commissions and fees, will be routed back as program income to the CDA.