City of Racine - File #: Res.0077-17

• File #: Res.0077-17
• Version: A
• Name: Negotiated Settlement Amount for HOME Loan to Main-Lake, LLC
• Type: Resolution
• Status: Passed
• File created: 3/7/2017
• In control: City Attorney's Office
• On agenda: 3/7/2017
• Final action: 3/7/2017
• Title: Negotiated Settlement Amount for HOME Loan to Main-Lake, LLC Resolved, that the City is to receive $400,000.00 as the negotiated settlement of a HOME loan made to Main-Lake, LLC (Loan #95-54-002). Fiscal Note: The City of Racine is to receive $400,000.00 from Main Lake, LLC’s successor, which will be returned to the HOME loan fund.
• Sponsors: Q.A. Shakoor II
• Related files: 51-17

Date	Ver.	Action By	Action	Result
3/7/2017	A	Common Council	Approved

Sponsor

Alderman Shakoor

Title

Negotiated Settlement Amount for HOME Loan to Main-Lake, LLC

Resolved, that the City is to receive $400,000.00 as the negotiated settlement of a HOME loan made to Main-Lake, LLC (Loan #95-54-002).

Fiscal Note: The City of Racine is to receive $400,000.00 from Main Lake, LLC’s successor, which will be returned to the HOME loan fund.