City of Racine - File #: 07-0990

• File #: 07-0990
• Version: A
• Name: Development proposal for 1321 State Street.
• Type: Communication
• Status: Passed
• File created: 7/27/2007
• In control: Redevelopment Authority of the City of Racine
• Final action: 9/18/2007
• Title: Subject: (Direct Referral). Request of the Dorsey Group, LLC to submit a development proposal for the Authority's property at 1321 State Street. Recommendation of Redevelopment Authority on 8-1-07: That this item be deferred. Recommendation of the Redevelopment Authority on 9-5-07: That the action of the Redevelopment Authority granting a 12 month option to the Dorsey Group, LLC/Commonwealth Development Corporation on the property at 1321 State Street (parcel ID no. 03200004) under the terms and conditions set forth in Authority resolution 07-18 be approved. Fiscal Note: The developer will pay $1,660.00 for the option. Sale price for the property will be specified in the development agreement to be negotiated but is expected to be between $75,000 and $80,000 some or all of which may be deferred.

Date	Ver.	Action By	Action	Result
9/18/2007	A	Common Council	Approved as Presented	Pass
9/5/2007	A	Redevelopment Authority of the City of Racine	Recommended For Approval	Pass
8/1/2007	A	Redevelopment Authority of the City of Racine	Deferred	Pass

Title

Subject:  (Direct Referral).  Request of the Dorsey Group, LLC to submit a development proposal for the Authority's property at 1321 State Street.

Recommendation of Redevelopment Authority on 8-1-07:  That this item be deferred.

Recommendation of the Redevelopment Authority on 9-5-07: That the action of the Redevelopment Authority granting a 12 month option to the Dorsey Group, LLC/Commonwealth Development Corporation on the property at 1321 State Street (parcel ID no. 03200004) under the terms and conditions set forth in Authority resolution 07-18 be approved.

Fiscal Note: The developer will pay $1,660.00 for the option. Sale price for the property will be specified in the development agreement to be negotiated but is expected to be between $75,000 and $80,000 some or all of which may be deferred.