City of Racine - File #: 12-8322

• File #: 12-8322
• Version: A
• Name: 1130 Washington Avenue - Akil and City of Racine (Res. No. 12-3417)
• Type: Communication
• Status: Passed
• File created: 11/2/2012
• In control: Redevelopment Authority of the City of Racine
• Final action: 11/5/2012
• Title: Subject: (Direct Referral) Review of a development agreement between Akil, LLC and the Redevelopment Authority of the City of Racine for the property at 1130 Washington Avenue. (Res. No. 12-3417) Recommendation of the Redevelopment Authority on 11-5-12: That the Redevelopment Authority report for the meeting of November 5, 2012 is approved, and that the Authority Chairman, Executive Director and City Attorney are authorized to enter into a Development Agreement with Akil, LLC for the property at 1130 Washington Avenue. Fiscal Note: Akil, LLC is paying $10,000 for the property plus up to $2,000 towards the Authority's closing costs. Upon completion, total project value is estimated to exceed $1,200,000.
• Related files: Res.12-3417

Date	Ver.	Action By	Action	Result
11/7/2012	A	Common Council	Approved as Presented	Pass
11/5/2012	A	Redevelopment Authority of the City of Racine	Recommended For Approval	Pass

Title

Subject: (Direct Referral) Review of a development agreement between Akil, LLC and the Redevelopment Authority of the City of Racine for the property at 1130 Washington Avenue. (Res. No. 12-3417)

Recommendation of the Redevelopment Authority on 11-5-12: That the Redevelopment Authority report for the meeting of November 5, 2012 is approved, and that the Authority Chairman, Executive Director and City Attorney are authorized to enter into a Development Agreement with Akil, LLC for the property at 1130 Washington Avenue.

Fiscal Note: Akil, LLC is paying $10,000 for the property plus up to $2,000 towards the Authority's closing costs.  Upon completion, total project value is estimated to exceed $1,200,000.