City of Racine - File #: 0123-21

• File #: 0123-21
• Version: A
• Name: Subject: Communication from Mayor Mason seeking to meet in Closed Session pursuant to Wisconsin Statutes section 19.85(1)(e), to address a matter that, for competitive or bargaining reasons, requires a closed session, specifically regarding an amendment t
• Type: Communication
• Status: Passed
• File created: 2/18/2021
• In control: Finance and Personnel Committee
• Final action: 3/2/2021
• Title: Subject: Communication from Mayor Mason seeking to meet in Closed Session pursuant to Wisconsin Statutes section 19.85(1)(e), to address a matter that, for competitive or bargaining reasons, requires a closed session, specifically regarding an amendment the agreement with The Main Attraction, LLC for the Redevelopment of an 80-unit Boutique Hotel, restaurant, roof-top bar, café, banquet facility. Recommendation of the Finance and Personnel Committee on 02-22-2021: That the amendment to the Developer Incentive Agreement between the City of Racine and The Main Attraction, LLC. for the Redevelopment of an 80-unit Boutique Hotel, restaurant, roof-top bar, banquet facility and meeting rooms, in and on the former "Zahn's Department Store" property at 500 Main Street along Monument Square be approved and that the Mayor and City Clerk be authorized to execute the Amendment on behalf of the City of Racine. Fiscal Note: Loan amount will be available upon resolution by the Common Council and c...

Date	Ver.	Action By	Action	Result
3/2/2021	A	Common Council	Approved	Pass
2/22/2021	A	Finance and Personnel Committee	Approved	Pass
2/22/2021	A	Finance and Personnel Committee	Approved	Pass
2/22/2021	A	Finance and Personnel Committee	Recommended For Approval	Pass

Title

Subject: Communication from Mayor Mason seeking to meet in Closed Session pursuant to Wisconsin Statutes section 19.85(1)(e), to address a matter that, for competitive or bargaining reasons, requires a closed session, specifically regarding an amendment the agreement with The Main Attraction, LLC  for the Redevelopment of an 80-unit Boutique Hotel, restaurant, roof-top bar, café, banquet facility.

Recommendation of the Finance and Personnel Committee on 02-22-2021: That the amendment to the Developer Incentive Agreement between the City of Racine and The Main Attraction, LLC. for the Redevelopment of an 80-unit Boutique Hotel, restaurant, roof-top bar, banquet facility and meeting rooms, in and on the former "Zahn's Department Store" property at 500 Main Street along Monument Square be approved and that the Mayor and City Clerk be authorized to execute the Amendment on behalf of the City of Racine.

Fiscal Note: Loan amount will be available upon resolution by the Common Council and closing on the City loan with Board of Commissioners of Public Lands.