City of Racine - File #: 12-7545

• File #: 12-7545
• Version: A
• Name: Communication from Racine County Economic Development Corporation requesting adoption of a strategy and operational plan for the city's revolving loan fund. (Res. No. 12-3118)
• Type: Communication
• Status: Passed
• File created: 3/30/2012
• In control: Economic Development Committee
• Final action: 5/1/2012
• Title: Subject: Communication from Racine County Economic Development Corporation requesting adoption of a strategy and operational plan for the city's revolving loan fund. (Res. No. 12-3118) Recommendation of the Economic Development Committee on 4-17-12: That the strategy and operational plan for the revolving loan fund as documented in the Title IX Revolving Loan Fund Plan, dated January 31, 2012, be approved. Fiscal Note: The revolving loan fund (RLF) is being recapitalized with a recent award of $500,000 from the U.S. Economic Development Authority (EDA) and a previously approved commitment of $500,000 from the City of Racine. Receipt of the EDA funds is contingent on approval of the City of Racine's adoption of the RLF strategy and operational plan.
• Related files: Res.12-3118

Date	Ver.	Action By	Action	Result
5/1/2012	A	Common Council	Approved as Presented	Pass
4/17/2012	A	Economic Development Committee	Recommended For Approval	Pass
4/4/2012	A	Common Council	Referred

Title

Subject: Communication from Racine County Economic Development Corporation requesting adoption of a strategy and operational plan for the city's revolving loan fund. (Res. No. 12-3118)

Recommendation of the Economic Development Committee on 4-17-12: That the strategy and operational plan for the revolving loan fund as documented in the Title IX Revolving Loan Fund Plan, dated  January 31, 2012, be approved.

Fiscal Note: The revolving loan fund (RLF) is being recapitalized with a recent award of $500,000 from the U.S. Economic Development Authority (EDA) and a previously approved commitment of $500,000 from the City of Racine. Receipt of the EDA funds is contingent on approval of the City of Racine's adoption of the RLF strategy and operational plan.