City of Racine - File #: Res.12-3417

• File #: Res.12-3417
• Version: A
• Name: Review of a Development Agreement between Akil, LLC and the Redevelopment Authority of the City of Racine for Property at 1130 Washington Avenue
• Type: Resolution
• Status: Passed
• File created: 11/7/2012
• In control: City Attorney's Office
• Final action: 11/7/2012
• Title: Review of a Development Agreement between Akil, LLC and the Redevelopment Authority of the City of Racine for Property at 1130 Washington Avenue Resolved, that the Redevelopment Authority report for the meeting of November 5, 2012 is approved, and the Authority Chairman, Executive Director and City Attorney are authorized to enter into a Development Agreement with Akil, LLC for the property at 1130 Washington Avenue. Fiscal Note: Akil, LLC is paying $10,000 for the property plus up to $2,000 towards the Authority’s Closing Costs. Upon completion, total project value is estimated to exceed $1,200,000.
• Sponsors: Q.A. Shakoor II
• Related files: 12-8322

Date	Ver.	Action By	Action	Result
11/7/2012	A	Common Council	Adopted	Pass

Sponsor

Alderman Shakoor

Title

Review of a Development Agreement between Akil, LLC and the Redevelopment Authority of the City of Racine for Property at 1130 Washington Avenue

Resolved, that the Redevelopment Authority report for the meeting of November 5, 2012 is approved, and the Authority Chairman, Executive Director and City Attorney are authorized to enter into a Development Agreement with Akil, LLC for the property at 1130 Washington Avenue.

Fiscal Note:  Akil, LLC is paying $10,000 for the property plus up to $2,000 towards the Authority's Closing Costs.  Upon completion, total project value is estimated to exceed $1,200,000.