City of Racine - File #: Res.09-1604

• File #: Res.09-1604
• Version: A
• Name: Enter into amended development agreement with Gorman and Company for State at Main Street Development Project
• Type: Resolution
• Status: Passed
• File created: 9/15/2009
• In control: City Attorney's Office
• Final action: 9/15/2009
• Title: Enter into amended development agreement with Gorman and Company for State at Main Street Development Project Resolved, that the Mayor and City Clerk be authorized and directed to enter into an amended development agreement with Gorman and Company for the State and Main Street Development Project in Tax Incremental Financing District #13. Fiscal Note: The amended agreement will allow Gorman and Company the ability to possibly recover an additional $88,000 of eligible expenses incurred by the project. The total recoverable amount will increase to $1,888,000.
• Sponsors: James Spangenberg
• Related files: 09-4079

Date	Ver.	Action By	Action	Result
9/15/2009	A	Common Council	Adopted	Pass

Sponsor

Alderman Spangenberg

Title

Enter into amended development agreement with Gorman and Company for State at Main Street Development Project

Resolved, that the Mayor and City Clerk be authorized and directed to enter into an amended development agreement with Gorman and Company for the State and Main Street Development Project in Tax Incremental Financing District #13.

Fiscal Note: The amended agreement will allow Gorman and Company the ability to possibly recover an additional $88,000 of eligible expenses incurred by the project.  The total recoverable amount will increase to $1,888,000.