City of Racine - File #: 0494-26

• File #: 0494-26
• Version: A
• Name: Subject: Communication sponsored by Mayor Mason requesting authorization to allocate $1,077,000 in funds from the closure of Tax Increment District #8, for a home renovation program titled “Racine: Rehabbed and Ready.”
• Type: Communication
• Status: Introduced In Council
• File created: 5/28/2026
• In control: Finance and Personnel Committee
• Title: Subject: Communication sponsored by Mayor Mason requesting authorization to allocate $1,077,000 in funds from the closure of Tax Increment District #8, for a home renovation program titled “Racine: Rehabbed and Ready.” Staff Recommendation: That the City of Racine Common Council authorizes the use of TID #8 funds not to exceed $1,077,000 in total for the “Racine: Rehabbed and Ready” program. Further, authorizes the City of Racine Community Development Authority to implement the allocation of these funds and develop rules and guidelines to implement the program. Fiscal Note: $1,077,000 exists in account 20420 - TID #8 and if approved, would be reserved for applicants of this program.

Title

Subject: Communication sponsored by Mayor Mason requesting authorization to allocate $1,077,000 in funds from the closure of Tax Increment District #8, for a home renovation program titled “Racine: Rehabbed and Ready.”

Staff Recommendation: That the City of Racine Common Council authorizes the use of TID #8 funds not to exceed $1,077,000 in total for the “Racine: Rehabbed and Ready” program.  Further, authorizes the City of Racine Community Development Authority to implement the allocation of these funds and develop rules and guidelines to implement the program.

Fiscal Note:  $1,077,000 exists in account 20420 - TID #8 and if approved, would be reserved for applicants of this program.