City of Racine - File #: 07-0822

• File #: 07-0822
• Version: A
• Name: Funds for purchasing & demolition of structures on 1014 Dr. Martin Luther King. Jr. Drive
• Type: Communication
• Status: Committee Report To Council
• File created: 6/21/2007
• In control: Finance and Personnel Committee
• Final action: 8/21/2007
• Title: Subject: (Direct Referral) Request for an advance of funds from the Intergovernmental Revenue Sharing Fund for the purchase of and demolition of structures on 1014 Dr. Martin Luther King. Jr. Drive. Recommendation of Redevelopment Authority on 6-22-07: That the item be deferred. Recommendation of Redevelopment Authority on 8-1-07: To approve of and allocate funding for the acqusition and to adopt Redev. Resolution 07-15. Fiscal Note: Funds would be advanced from the Intergovernmental Revenue Sharing Fund and repaid by Tax Increment District No. 15. Further to refer to Finance and Personnel Committee. Recommendation of the Finance & Personnel Committee on 8-13-07: Approve a $300,000 advance from Fund (919) Intergovernmental Revenue Sharing to TID #15 for the purchase and demolition of structures on 1014 Dr. Martin Luther King, Jr. Drive. Fiscal Note: Funds are available in the Intergovernmental Revenue Sharing Fund, which will be reimbursed over time by the tax incremental d...
• Related files: Res.07-0385

Date	Ver.	Action By	Action	Result
8/21/2007	A	Common Council	Approved as Presented	Pass
8/13/2007	A	Finance and Personnel Committee	Recommended For Approval	Pass
8/6/2007	A	Common Council	Referred
8/1/2007	A	Redevelopment Authority of the City of Racine	Recommended For Further Consideration	Pass
6/22/2007	A	Redevelopment Authority of the City of Racine	Deferred	Pass

Title

Subject:  (Direct Referral) Request for an advance of funds from the Intergovernmental Revenue Sharing Fund for the purchase of and demolition of structures on 1014 Dr. Martin Luther King. Jr. Drive.

Recommendation of Redevelopment Authority on 6-22-07: That the item be deferred.

Recommendation of Redevelopment Authority on 8-1-07: To approve of and allocate funding for the acqusition and to adopt Redev. Resolution 07-15.

Fiscal Note:  Funds would be advanced from the Intergovernmental Revenue Sharing Fund and repaid by Tax Increment District No. 15.

Further to refer to Finance and Personnel Committee.

Recommendation of the Finance & Personnel Committee on 8-13-07:  Approve  a $300,000 advance from Fund (919) Intergovernmental Revenue Sharing to TID #15 for the purchase and demolition of structures on 1014 Dr. Martin Luther King, Jr. Drive.

Fiscal Note:   Funds are available in the Intergovernmental Revenue Sharing Fund, which will be reimbursed over time by the tax incremental district (TID-15) created for this project.