City of Racine - File #: 15-00954

• File #: 15-00954
• Version: A
• Name: Deed Restrictions 410 Main Street (Res No. 15-0471)
• Type: Communication
• Status: Failed
• File created: 10/22/2015
• In control: Redevelopment Authority of the City of Racine
• Final action: 12/31/2017
• Title: Subject: (Direct Referral) Consideration of a release of restrictions pertaining to a development agreement and deed restriction for 410 Main Street. (Res No. 15-0471) Recommendation of the Redevelopment Authority of the City of Racine on 12-7-15: Whereas, in 2005 a deed restriction was recorded by the RDA against the property requiring that no transfer of the property at 410 Main Street occur before an occupancy permit is received for the first floor, and Whereas, the property has remained vacant since 2005 and the deed restriction has become an impediment to the redevelopment of the Property by blocking the pending sale of the Property. Now therefore, the RDA recommends that the deed restriction described herein and recorded against the property at 410 Main Street be removed. Fiscal Note: All costs associated with removal of the restriction from the deed will be borne by the petitioner.
• Related files: Res.15-0471

Date	Ver.	Action By	Action	Result
12/15/2015	A	Common Council
12/15/2015	A	Common Council
12/7/2015	A	Redevelopment Authority of the City of Racine	Recommended For Approval	Pass
10/26/2015	A	Redevelopment Authority of the City of Racine	Deferred	Pass

Title

Subject: (Direct Referral) Consideration of a release of restrictions pertaining to a development agreement and deed restriction for 410 Main Street. (Res No. 15-0471)

Recommendation of the Redevelopment Authority of the City of Racine on 12-7-15: Whereas, in 2005 a deed restriction was recorded by the RDA against the property requiring that no transfer of the property at 410 Main Street occur before an occupancy permit is received for the first floor, and

Whereas, the property has remained vacant since 2005 and the deed restriction has become an impediment to the redevelopment of the Property by blocking the pending sale of the Property.

Now therefore, the RDA recommends that the deed restriction described herein and recorded against the property at 410 Main Street be removed.

Fiscal Note: All costs associated with removal of the restriction from the deed will be borne by the petitioner.