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File #: 0467-24    Version: A Name: 516 Eleventh Street
Type: Communication Status: Passed
File created: 5/17/2024 In control: Community Development Authority
On agenda: 6/4/2024 Final action: 6/4/2024
Title: Subject: Consideration of a request by the Community Development Authority of the City of Racine through Resolution 24-12 related to property owned by JP Morgan Chase Bank, National Association Inc. and located at 516 Eleventh Street, for potential acquisition by the Community Development Authority of the City of Racine (CDA) for blight elimination and redevelopment and that the CDA acquire such property notwithstanding that it is not in an existing redevelopment area. Recommendation of the Community Development Authority on 05-22-24: That the Common Council find that a comprehensive redevelopment plan is not necessary to determine the need for the acquisition of the real estate at 516 Eleventh Street by the Community Development Authority of the City of Racine, the uses of the property after acquisition, and the relation of the acquisition to other property redevelopment by the Community Development Authority of the City of Racine. Further, that the Community Development Authority o...
Attachments: 1. Staff Memo, 2. CDA Resolution 24-12, 3. #0467-24 Resolution

Title

Subject: Consideration of a request by the Community Development Authority of the City of Racine through Resolution 24-12 related to property owned by JP Morgan Chase Bank, National Association Inc. and located at 516 Eleventh Street, for potential acquisition by the Community Development Authority of the City of Racine (CDA) for blight elimination and redevelopment and that the CDA acquire such property notwithstanding that it is not in an existing redevelopment area.

 

Recommendation of the Community Development Authority on 05-22-24: That the Common Council find that a comprehensive redevelopment plan is not necessary to determine the need for the acquisition of the real estate at 516 Eleventh Street by the Community Development Authority of the City of Racine, the uses of the property after acquisition, and the relation of the acquisition to other property redevelopment by the Community Development Authority of the City of Racine.

 

Further, that the Community Development Authority of the City of Racine be permitted to acquire such real estate notwithstanding that it is not within an existing redevelopment plan area.


Fiscal Note: N/A as the CDA will be acquiring the property and City funds will not be used for property acquisition or recording of necessary documents.