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14-10218
| A | | Reports | Application | Subject:
Reports
A. Delinquency Report
C. Financial Report
1. Available Loan Fund
2. Program Loan Fund
D. Monthly Activity Report
E. Property Disposition Report | Approved | Pass |
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14-10759
| A | | Sanchez (Res. No. 14-0495) | Communication | Subject: (Direct Referral) Request of the Director of City Development to accept the offer of Carlos Castelan-Sanchez and Cintia Sanchez to purchase 1236 Schiller Street, an NSP property. (Res. No. 14-0495)
Recommendation of the Loan Board of Review on November 20, 2014: that the request of the Director of City Development to accept the offer, with contingencies, of Carlos Castelan-Sanchez and Cintia Sanchez to purchase 1236 Schiller Street be approved.
Further recommend that the Mayor, City Clerk, and the Director of City Development be authorized to execute any documents necessary to complete the sale.
Fiscal Note: This is a new home build under the NSP-3 program. The City will receive $86,000 in proceeds from the sale, minus commission and closing costs. | Recommended For Approval | Pass |
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14-10769
| A | | Choose Racine (Res. No. 14-0496) | Communication | Subject: (Direct Referral) Request of the Director of City Development to discuss revisions to the Choose Racine Program. (Res. No. 14-0496)
Recommendation of the Loan Board of Review on November 20, 2014: that resolution 09-1588 of September 1, 2009, establishing a Choose Racine program, be rescinded.
Fiscal Note: The program allowed qualified public employees to purchase homes from the city at 50% of list price. The program was intended to broaden the market for rehabilitated homes. However, it was not intended for newly constructed homes like the city is currently marketing and the program has not been effective in increasing demand for the rehabilitated homes. As a result, rescission will have no fiscal impact. | Recommended For Approval | Pass |
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