City of Racine - File #: 12-8437

• File #: 12-8437
• Version: A
• Name: (Direct Referral) Request of the Direct of City Development to accept the offer of Cervelio Cervantes to purchase 1125 Grand Avenue (an NSP-1 property). (Res. No. 12-3477)
• Type: Communication
• Status: Passed
• File created: 12/7/2012
• In control: Loan Board of Review
• Final action: 12/18/2012
• Title: Subject: (Direct Referral) Request of the Director of City Development to accept the offer of Cervelio Cervantes to purchase 1125 Grand Avenue (an NSP-1 property). (Res. No. 12-3477) Recommendation of the Loan Board of Reveiw on 12/13/2012: To accept the offer of Cervelio Cervantes to purchase 1125 Grand Avenue and to authorize the Mayor, City Clerk, and the Director of City Development to execute any documents necessary to complete the purchase. Fiscal Note: The property was acquired and rehabilitated through the NSP-1 program. The city will receive $29,000 in proceeds, minus commissions and closing costs.
• Related files: Res.12-3477

Date	Ver.	Action By	Action	Result
12/18/2012	A	Common Council	Approved as Presented	Pass
12/13/2012	A	Loan Board of Review	Approved	Pass

Title

Subject:  (Direct Referral) Request of the Director of City Development to accept the offer of Cervelio Cervantes to purchase 1125 Grand Avenue (an NSP-1 property). (Res. No. 12-3477)

Recommendation of the Loan Board of Reveiw on 12/13/2012:  

To accept the offer of Cervelio Cervantes to purchase 1125 Grand Avenue and to authorize the Mayor, City Clerk, and the Director of City Development to execute any documents necessary to complete the purchase.

Fiscal Note:  The property was acquired and rehabilitated through the NSP-1 program.  The city will receive $29,000 in proceeds, minus commissions and closing costs.