Sponsor
Alderman Wiser
Title
City of Racine be authorized and directed to transfer the property at 1109 Albert Street to Fred and Debra Swenson subject to conditions
WHEREAS, Fred and Debra Swenson have asked to acquire the property at 1109 Albert Street from the City of Racine for one dollar to combine with their property at 1103 Albert Street for parking and yard space; and
WHEREAS, the property at 1109 Albert Street is vacant, surplus property unneeded by the City and is too small for the construction of a new home; and
WHEREAS, the sale of the property for combination with the adjacent property will return the property to productive use and taxable status.
RESOLVED, that the City of Racine shall transfer to Fred and Debra Swenson the property at 1109 Albert Street (parcel ID no. 02948000), subject to the following conditions:
a. That the cost of the parcel shall be one dollar ($1.00).
b. The transfer of the parcel shall occur within 90 days of the adoption of this resolution.
c. The parcel is transferred for the sole purpose of combining it with the property owned by Fred and Debra Swenson at 1103 Albert Street (parcel ID no. 02947000).
FURTHER RESOLVED, that the City Attorney is authorized and directed to proceed with the transfer without further action by the Common Council, including finalizing specific terms of the transfer and execution of any agreement, easement, and/or deed pursuant to the transfer.
Fiscal Note: The vacant parcel is too small (41 ft. x 51½ ft.) for a new home. Transfer to the Swensons will save property maintenance and other holding costs and result in new property taxes, estimated at $160 per year.