Sponsor
Alderman Spangenberg
Title
Permission for Redevelopment Authority to Acquire 1526 Washington Avenue
Whereas, sec. 66.1333 (5) (c) Wis. Stats., allows the Redevelopment Authority to acquire property without designating the boundary of a redevelopment area or adopting a redevelopment plan if approval of the acquisition is granted by the Common Council; and
Whereas, a property in the Uptown commercial area requires acquisition by condemnation to resolve financial encumbrances on the property and stop deterioration of the vacant building on the property; and
Whereas, acquisition of the property at this time will help implement the adopted Uptown Improvement Plan.
Resolved, that the Common Council of the City of Racine, pursuant to sec. 66.1333 (5) (c) Wis. Stats., authorizes and directs the Redevelopment Authority to acquire by condemnation 1526 Washington Avenue (parcel ID 09194000).
Further resolved, that the Common Council finds that a comprehensive redevelopment plan is not necessary to determine the need for the acquisition, the uses of the property after acquisition, and the relationship of the acquisition to other property redevelopment by the Authority.
Further resolved, that the Finance Director is authorized and directed to advance to the Authority funding for the acquisition from the 820 Commercial Corridor Fund and to establish the accounts necessary for the transfer of funds.
Fiscal Note: Funds are available in the account for this purpose.