City of Racine - File #: 15-00199

• File #: 15-00199
• Version: A
• Name: Business Expansion (Res No. 15-0125)
• Type: Communication
• Status: Passed
• File created: 2/27/2015
• In control: Redevelopment Authority of the City of Racine
• Final action: 3/17/2015
• Title: Subject: (Direct Referral) Consideration of financial assistance for the relocation and expansion of an existing business. (Res No. 15-0125) Recommendation of the Redevelopment Authority on 3-2-15: That the Authority supports the use of funding from the Intergovernmental Revenue Sharing Fund for the financial assistance for Vista Dental. Further, that the financial assistance be conditioned upon Vista Dental agreeing to expand in Racine, acquire and relocate to 2200 South Street, and give preference to qualified job applicants residing in the City of Racine when filling open positions. Further, that the Mayor and City Clerk be authorized and directed to execute a financial assistance agreement with Vista Dental in substantially the same form as outlined in the Memorandum from the Racine County Economic Development Corporation as attached. Fiscal Note: The funds are available in the Intergovernmental Revenue Sharing (919) account. Based on the properties 2014 assessed value, the es...
• Related files: Res.15-0125

Date	Ver.	Action By	Action	Result
3/17/2015	A	Common Council	Approved	Pass
3/2/2015	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. 15-0125)

Recommendation of the Redevelopment Authority on 3-2-15: That the Authority supports the use of funding from the Intergovernmental Revenue Sharing Fund for the financial assistance for Vista Dental.

Further, that the financial assistance be conditioned upon Vista Dental agreeing to expand in Racine, acquire and relocate to 2200 South Street, and give preference to qualified job applicants residing in the City of Racine when filling open positions.

Further, that the Mayor and City Clerk be authorized and directed to execute a financial assistance agreement with Vista Dental in substantially the same form as outlined in the Memorandum from the Racine County Economic Development Corporation as attached.

Fiscal Note: The funds are available in the Intergovernmental Revenue Sharing (919) account.  Based on the properties 2014 assessed value, the estimated annual assistance to Vista Dental will be $12,233.00 and continue for a period of 10 years.