Sponsor
Alderman Helding
Title
Financial Assistance for the Expansion of an Existing Business - Marlo Incorporated
Resolved, that the Authority supports the use of funding from the Intergovernmental Revenue Sharing Fund for the financial assistance for Marlo Incorporated.
Further resolved, that the Authority recommends that the financial assistance be conditioned upon Marlo Incorporated agreeing to expand at 2227 South Street, Racine, and give preference to City of Racine residents when filling open positions.
Further resolved, that the Authority recommends that the Mayor and City Clerk are authorized and directed to execute a financial assistance agreement with Marlo Incorporated in substantially the same form as outlined in the Memorandum from RCEDC attached to this file.
Fiscal Note: The funds are available in the Intergovernmental Revenue Sharing (919) Account.