City of Racine - File #: 06-1853

• File #: 06-1853
• Version: A
• Name: Communication regarding Walker property
• Type: Communication
• Status: Committee Report To Council
• File created: 5/1/2006
• In control: Executive Committee
• Final action: 5/9/2006
• Title: Subject: Communication from the Mayor wishing to discuss development of the former Walker property and adjoining areas. Recommendation of Executive Committee: That the City of Racine enter into the Pointe Blue Development Project Term Sheet as negotiated by the City, the Redevelopment Authority and Key Bridge Group, Inc., and that a development agreement be negotiated to implement the provisions of the Term Sheet. FN: An unknown amount will be expended for financial and legal consultants to complete the development agreement, with such costs being an allowable TID expenditure. 5-10-06: Recommendation of Redevelopment Authority: That the City of Racine and Redevelopment Authority enter into the Pointe Blue Development Project Term Sheet as negotiated by the City, the Redevelopment Authority and Key Bridge Group, Inc., and that a development agreement be negotiated to implement the provisions of the Term Sheet. Fiscal Note: The Term Sheet calls for the creation of a Tax Increment...
• Related files: Res.06-7018

Date	Ver.	Action By	Action	Result
5/10/2006	A	Redevelopment Authority of the City of Racine	Recommended For Approval	Pass
5/9/2006	A	Executive Committee	Approved
5/2/2006	A	Common Council	Referred
5/2/2006	A	Common Council	Referred

Title

Subject: Communication from the Mayor wishing to discuss development of the former Walker property and adjoining areas. 

Recommendation of Executive Committee:  That the City of Racine enter into the Pointe Blue Development Project Term Sheet as negotiated by the City, the Redevelopment Authority and Key Bridge Group, Inc., and that a development agreement be negotiated to implement the provisions of the Term Sheet.

FN: An unknown amount will be expended for financial and legal consultants to complete the development agreement, with such costs being an allowable TID expenditure.

5-10-06:

Recommendation of Redevelopment Authority: That the City of Racine and Redevelopment Authority enter into the Pointe Blue Development Project Term Sheet as negotiated by the City, the Redevelopment Authority and Key Bridge Group, Inc., and that a development agreement be negotiated to implement the provisions of the Term Sheet.

Fiscal Note:  The Term Sheet calls for the creation of a Tax Increment District (TID) to provide financial assistance for this development project.