City of Racine - File #: 14-9725

• File #: 14-9725
• Version: A
• Name: Financial Assistance Expansion (Res. No. 14-0042)
• Type: Communication
• Status: Passed
• File created: 1/14/2014
• In control: Redevelopment Authority of the City of Racine
• Final action: 1/21/2014
• Title: Subject: (Direct Referral) Consideration of financial assistance for the expansion of an existing business. (Res. No. 14-0042) Recommendation of the Redevelopment Authority on 1-16-14: That the Authority supports the use of funding from the Intergovernmental Revenue Sharing Fund for the financial assistance for Marlo Incorporated. Further, 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, that the Authority recommends that the Mayor and City Clerk be 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.
• Related files: Res.14-0042

Date	Ver.	Action By	Action	Result
1/21/2014	A	Common Council	Approved as Presented	Pass
1/16/2014	A	Redevelopment Authority of the City of Racine	Recommended For Approval	Pass

Title

Subject: (Direct Referral) Consideration of financial assistance for the expansion of an existing business. (Res. No. 14-0042)

Recommendation of the Redevelopment Authority on 1-16-14: That the Authority supports the use of funding from the Intergovernmental Revenue Sharing Fund for the financial assistance for Marlo Incorporated.

Further, 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, that the Authority recommends that the Mayor and City Clerk be 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.