City of Racine - File #: 0498-16

• File #: 0498-16
• Version: A
• Name: Communication from the Assistant Executive Director requesting authorization to apply for a Wisconsin Assessment Monies Grant. (Res No. 0225-16)
• Type: Communication
• Status: Committee Report To Council
• File created: 6/2/2016
• In control: Redevelopment Authority of the City of Racine
• Final action: 6/21/2016
• Title: Subject: (Direct Referral) Request by the Executive Director of the Redevelopment Authority to accept a proposal for brokerage services to market the South Side Industrial Park from Paul McBride of RFP Commercial, Inc. (Res No. 0225-16) Recommendation of the Redevelopment Authority on 6-6-16: That the proposal for brokerage services from Paul McBride of RFP Commercial, Inc. to market the South Side Industrial Park be approved. Further that the Executive Director of the Authority be authorized and directed to sign the brokerage agreement, as proposed. Recommendation of the Finance & Personnel Committee on 6-13-16: That the proposal for brokerage services from Paul McBride of RFP Commercial, Inc. to market the South Side Industrial Park be approved. Further that the Executive Director of the Authority be authorized and directed to sign the brokerage agreement, as proposed. Fiscal Note: Terms of the agreement are from July 1, 2016 to January 1, 2017. The property will be listed for ...
• Related files: Res.0225-16

Date	Ver.	Action By	Action	Result
6/21/2016	A	Common Council	Approved as Presented	Pass
6/13/2016	A	Finance and Personnel Committee	Recommended For Approval	Pass
6/6/2016	A	Redevelopment Authority of the City of Racine	Recommended For Approval

Title

Subject: (Direct Referral) Request by the Executive Director of the Redevelopment Authority to accept a proposal for brokerage services to market the South Side Industrial Park from Paul McBride of RFP Commercial, Inc. (Res No. 0225-16)

Recommendation of the Redevelopment Authority on 6-6-16: That the proposal for brokerage services from Paul McBride of RFP Commercial, Inc. to market the South Side Industrial Park be approved.  Further that the Executive Director of the Authority be authorized and directed to sign the brokerage agreement, as proposed.

Recommendation of the Finance & Personnel Committee on 6-13-16: That the proposal for brokerage services from Paul McBride of RFP Commercial, Inc. to market the South Side Industrial Park be approved.  Further that the Executive Director of the Authority be authorized and directed to sign the brokerage agreement, as proposed.

Fiscal Note:  Terms of the agreement are from July 1, 2016 to January 1, 2017. The property will be listed for $390,000 and the broker’s commission will be 8% of the asking price of $390,000  Funds will be taken from the Intergovernmental Revenue Sharing Account until Tax Increment District No. 10 produces sufficient increment, at which time the IG Account will be reimbursed.