City of Racine - File #: Res.0287-17

• File #: Res.0287-17
• Version: A
• Name: Tax Increment Finance (TIF)
• Type: Resolution
• Status: Passed
• File created: 9/5/2017
• In control: City Attorney's Office
• On agenda: 9/5/2017
• Final action: 9/5/2017
• Title: Tax Increment Finance (TIF) Resolved, that adopting the proposed Tax Increment Finance (TIF) Assistance Policy and a TIF Assistance application and the new policy effective on September 6, 2017 is approved. Fiscal Note: There will be a fee of 1% of total TIF Assistance Request for a maximum of $25,000.00 for “pay-as-you-go” requests and a fee of 1.5% of total TIF Assistance Requests for a maximum of $30,000.00 for projects that use loans or bonds. The increased fee for loans and bonds takes into account the extra work required by bond counsel and financial analysts.
• Sponsors: Q.A. Shakoor II
• Related files: 792-17

Date	Ver.	Action By	Action	Result
9/5/2017	A	Common Council	Approved as Presented	Pass

Sponsor

Alderman Shakoor

Title

Tax Increment Finance (TIF)

Resolved, that adopting the proposed Tax Increment Finance (TIF) Assistance Policy and a TIF Assistance application and the new policy effective on September 6, 2017 is approved.

Fiscal Note: There will be a fee of 1% of total TIF Assistance Request for a maximum of $25,000.00 for “pay-as-you-go” requests and a fee of 1.5% of total TIF Assistance Requests for a maximum of $30,000.00 for projects that use loans or bonds. The increased fee for loans and bonds takes into account the extra work required by bond counsel and financial analysts.