City of Racine - File #: 11-7202

• File #: 11-7202
• Version: A
• Name: Subject: (Direct Referral) Request of the Assistant Director of City Development to accept an Offer to Purchase 1620 Flett Avenue. (Res. 11-2894)
• Type: Communication
• Status: Passed
• File created: 12/13/2011
• In control: Loan Board of Review
• Final action: 12/20/2011
• Title: Subject: (Direct Referral) Request of the Assistant Director of City Development to accept an Offer to Purchase 1620 Flett Avenue. (Res. 11-2894) Recommendation of the Loan Board of Review on 12-15-11: That the request be approved contingent on the buyer accepting the period of affordability deed restriction. Further recommend that the Mayor, City Clerk, and Assistant Director of City Development be authorized to execute any necessary selling documents. Fiscal Note: The City will receive $86,900 in proceeds, minus commissions and closing costs.
• Related files: Res.11-2894

Date	Ver.	Action By	Action	Result
12/20/2011	A	Common Council	Approved as Presented	Pass
12/15/2011	A	Loan Board of Review	Recommended For Approval	Pass

Title

Subject: (Direct Referral) Request of the Assistant Director of City Development to accept an Offer to Purchase 1620 Flett Avenue. (Res. 11-2894)

Recommendation of the Loan Board of Review on 12-15-11: That the request be approved contingent on the buyer accepting the period of affordability deed restriction. Further recommend that the Mayor, City Clerk, and Assistant Director of City Development be authorized to execute any necessary selling documents.

Fiscal Note: The City will receive $86,900 in proceeds, minus commissions and closing costs.