City of Racine - File #: 15-01016

• File #: 15-01016
• Version: A
• Name: Marlo Amended Terms (Res No. 0008-16)
• Type: Communication
• Status: Committee Report To Council
• File created: 11/20/2015
• In control: Finance and Personnel Committee
• Final action: 1/20/2016
• Title: Subject: (Direct Referral) A request for amended agreement terms for Marlo Incorporated, 2227 South Street. (Res No. 0008-16) Recommendation of the Redevelopment Authority of the City of Racine on 12-7-15: That the modification to the 2014 assistance agreement be approved and that all other terms and conditions of the original 2014 assistance agreement remain in full force and effect, unless otherwise modified. Further, that the Mayor and City Clerk be authorized and directed to execute modifications to the 2014 financial assistance agreement with Marlo Incorporated in substantially the same form as outlined and in the attached Memorandum from RCEDC. Recommendation of the Finance & Personnel Committee on January 11, 2016: That the modification to the 2014 assistance agreement be approved and that all other terms and conditions of the original 2014 assistance agreement remain in full force and effect, unless otherwise modified. Further, that the Mayor and City Clerk be authorized an...
• Related files: Res.0008-16

Date	Ver.	Action By	Action	Result
1/19/2016	A	Common Council	Approved as Presented	Pass
1/11/2016	A	Finance and Personnel Committee	Recommended For Approval	Pass
12/15/2015	A	Common Council
12/7/2015	A	Redevelopment Authority of the City of Racine	Recommended For Further Consideration	Pass

Title

Subject: (Direct Referral) A request for amended agreement terms for Marlo Incorporated, 2227 South Street. (Res No. 0008-16)

Recommendation of the Redevelopment Authority of the City of Racine on 12-7-15: That the modification to the 2014 assistance agreement be approved and that all other terms and conditions of the original 2014 assistance agreement remain in full force and effect, unless otherwise modified.  Further, that the Mayor and City Clerk be authorized and directed to execute modifications to the 2014 financial assistance agreement with Marlo Incorporated in substantially the same form as outlined and in the attached Memorandum from RCEDC.

Recommendation of the Finance & Personnel Committee on January 11, 2016: That the modification to the 2014 assistance agreement be approved and that all other terms and conditions of the original 2014 assistance agreement remain in full force and effect, unless otherwise modified.  Further, that the Mayor and City Clerk be authorized and directed to execute modifications to the 2014 financial assistance agreement with Marlo Incorporated in substantially the same form as outlined and in the attached Memorandum from RCEDC.

Fiscal Note: The funds are available in the Intergovernmental Revenue Sharing Fund.  The subsidy is estimated at $86,400 over a 10 year period.