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14-10729
| A | | Offer to Purchase 1248 Washington Avenue (Res No. 15-0124) | Communication | Subject: (Direct Referral) Review of terms regarding an offer to purchase the property located at 1248 Washington Avenue. (Res No. 15-0124)
Recommendation of the Redevelopment Authority on 3-2-15: That the lease and sale of 1248 Washington Avenue (parcel ID no. 10109000) to Robert G. DeMicchi be approved, and that the terms of the lease and sale are as outlined in Exhibit A, as attached.
Further, that upon approval of the lease and sale by the Common Council, the Chairperson, Executive Director and City Attorney are authorized and directed to proceed with the lease and sale without further action by the Authority or Council.
Fiscal Note: The lease will net the City payments of $11,250.00 for 2015 and $15,000.00 for 2016. The tenant will receive a $10,000.00 credit towards their 2016 lease payment if facade improvements are completed by December 1, 2015 thus netting to the City $5,000.00 for a 2016 lease payment. The tenant will purchase the property by December 31, 2016 netting the City an additional $43,750.00. The City will pay a $100.00 consideration fee to the purchas | | |
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15-00199
| A | | Business Expansion (Res No. 15-0125) | Communication | Subject: (Direct Referral) Consideration of financial assistance for the relocation and expansion of an existing business. (Res No. 15-0125)
Recommendation of the Redevelopment Authority on 3-2-15: That the Authority supports the use of funding from the Intergovernmental Revenue Sharing Fund for the financial assistance for Vista Dental.
Further, that the financial assistance be conditioned upon Vista Dental agreeing to expand in Racine, acquire and relocate to 2200 South Street, and give preference to qualified job applicants residing in the City of Racine when filling open positions.
Further, that the Mayor and City Clerk be authorized and directed to execute a financial assistance agreement with Vista Dental in substantially the same form as outlined in the Memorandum from the Racine County Economic Development Corporation as attached.
Fiscal Note: The funds are available in the Intergovernmental Revenue Sharing (919) account. Based on the properties 2014 assessed value, the estimated annual assistance to Vista Dental will be $12,233.00 and continue for a period of 10 | | |
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14-10729
| A | | Offer to Purchase 1248 Washington Avenue (Res No. 15-0124) | Communication | Subject: (Direct Referral) Review of terms regarding an offer to purchase the property located at 1248 Washington Avenue. (Res No. 15-0124)
Recommendation of the Redevelopment Authority on 3-2-15: That the lease and sale of 1248 Washington Avenue (parcel ID no. 10109000) to Robert G. DeMicchi be approved, and that the terms of the lease and sale are as outlined in Exhibit A, as attached.
Further, that upon approval of the lease and sale by the Common Council, the Chairperson, Executive Director and City Attorney are authorized and directed to proceed with the lease and sale without further action by the Authority or Council.
Fiscal Note: The lease will net the City payments of $11,250.00 for 2015 and $15,000.00 for 2016. The tenant will receive a $10,000.00 credit towards their 2016 lease payment if facade improvements are completed by December 1, 2015 thus netting to the City $5,000.00 for a 2016 lease payment. The tenant will purchase the property by December 31, 2016 netting the City an additional $43,750.00. The City will pay a $100.00 consideration fee to the purchas | Recommended For Approval | Pass |
Action details
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Not available
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15-00199
| A | | Business Expansion (Res No. 15-0125) | Communication | Subject: (Direct Referral) Consideration of financial assistance for the relocation and expansion of an existing business. (Res No. 15-0125)
Recommendation of the Redevelopment Authority on 3-2-15: That the Authority supports the use of funding from the Intergovernmental Revenue Sharing Fund for the financial assistance for Vista Dental.
Further, that the financial assistance be conditioned upon Vista Dental agreeing to expand in Racine, acquire and relocate to 2200 South Street, and give preference to qualified job applicants residing in the City of Racine when filling open positions.
Further, that the Mayor and City Clerk be authorized and directed to execute a financial assistance agreement with Vista Dental in substantially the same form as outlined in the Memorandum from the Racine County Economic Development Corporation as attached.
Fiscal Note: The funds are available in the Intergovernmental Revenue Sharing (919) account. Based on the properties 2014 assessed value, the estimated annual assistance to Vista Dental will be $12,233.00 and continue for a period of 10 | Recommended For Approval | Pass |
Action details
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Not available
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