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Subject: (Direct Referral) Communication from the City Attorney wishing to convene in closed session to discuss, with the Finance and Personnel Committee, strategy with respect to litigation in which the City of Racine is or is likely to become involved, specifically Racine Country Club v. City of Racine, Racine County Case Nos. 11 CV 1622 and 12 CV 1234.
Recommendation of the Finance & Personnel Committee on 1-21-13: Recommend that Racine County Cases No. 11-CV-1622 and 12-CV-1234, Racine Country Club v City of Racine, be settled in accordance with the Settlement Agreement and Release,
and that property tax refunds due under the settlement be paid from account 101.990.5930, R.E & P.P Taxes cancelled.
Further recommend that $100,000 be transferred from account 101.990.5970, Contingency, to account 101.990.5930, R.E & P.P Taxes cancelled, to fully fund the refund.
Fiscal Note: The refund for 2010 is $51,062; 2011 is 57,596 plus interest; 2012 is $64,371. Total refund is $173,029 plus 2011 interest. $75,000 is budgeted in 2013 in account 101.990.5930, R.E & P.P Taxes cancelled. A $100,000 transfer from the contingent account is needed to fully fund the refund. Chargebacks to other jurisdictions will be processed for their respective shares of the refunds and should be received in 2014.