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Subject: Communication from Racine County Economic Development Corporation submitting its proposed 2010 agreement for the commercial corridor redevelopment program. (Res.10-1794)
Recommendation of the Redevelopment Authority on 01-06-10: Whereas sec. 46-268 of the Racine Municipal Code calls for the Authority to advise the Common Council on the use of Intergovernmental Revenue Sharing (Sewer Agreement) Funds, the Authority recommends the use of $69,400.00 from the Intergovernmental Revenue Sharing Fund for the renewal of the RCEDC commercial corridor initiative contract for 2010.
Further recommends that the Mayor and City Clerk be authorized and directed to enter into the agreement with RCEDC.
Recommendation of the Finance & Personnel Committee on 01-11-10: The Mayor and City Clerk be authorized and directed to enter into an agreement between the City of Racine and the Racine County Economic Development Corporation (RCEDC) to provide economic development assistance to the City, commencing on January 1, 2010 to December 31, 2010. Further recommends that $69,400.00 from the Intergovernmental Revenue Sharing Fund be used for the renewal of the RCEDC commercial corridor contract for 2010.
Fiscal Note: Funds are available in account 919-000-5610, Professional Services-Commercial Corridors.