City of Racine - File #: 12-7390

• File #: 12-7390
• Version: A
• Name: (Direct Referral) Request of the Assistant Director of City Development to accept an Offer to Purchase 1324 Center Street (Res. 12-2988)
• Type: Application
• Status: Passed
• File created: 2/14/2012
• In control: Loan Board of Review
• Final action: 2/16/2012
• Title: Subject: (Direct Referral) Request of the Assistant Director of City Development to accept an Offer to Purchase 1324 Center Street. (Res. 12-2988) Recommendation of the Loan Board on 2-16-12: 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 $72,900 in proceeds, minus closing costs and miscellaneous fees.
• Related files: Res.12-2988

Date	Ver.	Action By	Action	Result
2/22/2012	A	Common Council	Approved as Presented	Pass
2/16/2012	A	Loan Board of Review	Approved	Pass

Title

Subject: (Direct Referral) Request of the Assistant Director of City Development to accept an Offer to Purchase 1324 Center Street.  (Res. 12-2988)

Recommendation of the Loan Board on 2-16-12: 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 $72,900 in proceeds, minus closing costs and miscellaneous fees.