City of Racine - File #: 14-9724

• File #: 14-9724
• Version: A
• Name: Financial Assistance (Res. No. 14-0041)
• 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 relocation and expansion of an existing business. (Res. No. 14-0041) 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 Altus Vinyl LLC. Further that the Authority recommends that the financial assistance be conditioned upon Altus Vinyl LLC agreeing to expand in Racine, acquire and relocate to 1907 St. Patrick Street, and give preference to City of Racine residents when filling open positions. Further that the Mayor and City Clerk be authorized and directed to execute a financial assistance agreement with Altus Vinyl LLC 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.14-0041

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 relocation and expansion of an existing business. (Res. No. 14-0041)

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 Altus Vinyl LLC.

Further that the Authority recommends that the financial assistance be conditioned upon Altus Vinyl LLC agreeing to expand in Racine, acquire and relocate to 1907 St. Patrick Street, and give preference to City of Racine residents when filling open positions.

Further that the Mayor and City Clerk be authorized and directed to execute a financial assistance agreement with Altus Vinyl LLC 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.