City of Racine - File #: Res.12-3332

• File #: Res.12-3332
• Version: A
• Name: 1511 Washington Avenue
• Type: Resolution
• Status: Passed
• File created: 9/18/2012
• In control: City Attorney's Office
• Final action: 9/18/2012
• Title: 1511 Washington Avenue Resolved, that pursuant to section 66.1333(9)(a)1.d., Wisconsin Statutes, the Common Council approves the action of the Authority granting a three-month option on the property at 1511 Washington Avenue to Ryan Douglas of LandQuest of Wisconsin. 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.
• Sponsors: Q.A. Shakoor II
• Related files: 12-7778

Date	Ver.	Action By	Action	Result
9/18/2012	A	Common Council

Sponsor

Alderman Shakoor

Title

1511 Washington Avenue

Resolved, that pursuant to section 66.1333(9)(a)1.d., Wisconsin Statutes, the Common Council approves the action of the Authority granting a three-month option on the property at 1511 Washington Avenue to Ryan Douglas of LandQuest of Wisconsin.

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.