Sponsor
Alderman Shakoor
Title
Litigation Regarding Racine Country Club v. City of Racine
Resolved, that Racine County Cases No. 11-CV-1622 and 12-CV-1234, Racine Country Club v. City of Racine, are to 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 resolved, that $100,000.00 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 $51,062.00; 2011 is $57,596.00 plus interest; 2012 is $64,371.00. Total refund is $173,029.00 plus 2011 interest. $75,000.00 is budgeted in 2013 in account 101.990.5930, R.E & P.P Taxes cancelled. A $100,000.00 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.