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File #: 0817-19    Version: A Name:
Type: Communication Status: Passed
File created: 7/10/2019 In control: Finance and Personnel Committee
On agenda: 8/7/2019 Final action: 8/7/2019
Title: Subject: Communication sponsored by Alder Shakoor II requesting the City transfer 1543 West Boulevard to Acadia Properties, LLC. Recommendation of the Finance & Personnel Committee on 07-22-2019: The transfer of 1543 West Blvd. to Acadia Properties, LLC. in accordance with the procedures established in the Property Reactivation Program be approved. Fiscal Note: Acadia Properties will reimburse the City for title transfer, recording, or any other applicable fees, while also paying the City a $7,500 acquisition cost. Of the acquisition cost, $5,000 will be returned as a deposit upon successful completion of the rehabilitation work and sale of the property in the timeframes allotted.
Attachments: 1. MEMO- Property Reactivation ProgramAcadia.pdf, 2. #0817-19 Resolution

Title

Subject: Communication sponsored by Alder Shakoor II requesting the City transfer 1543 West Boulevard to Acadia Properties, LLC.

 

Recommendation of the Finance & Personnel Committee on 07-22-2019: The transfer of 1543 West Blvd. to Acadia Properties, LLC. in accordance with the procedures established in the Property Reactivation Program be approved.

 

Fiscal Note: Acadia Properties will reimburse the City for title transfer, recording, or any other applicable fees, while also paying the City a $7,500 acquisition cost. Of the acquisition cost, $5,000 will be returned as a deposit upon successful completion of the rehabilitation work and sale of the property in the timeframes allotted.