Sponsor
Alderman Morgenroth
Title
Relocation and Expansion of Vista Dental to 2200 South Street
Resolved, that the Authority supports the use of funding from the Intergovernmental Revenue Sharing Fund for the financial assistance for Vista Dental.
Further resolved, 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 resolved, that the Mayor and City Clerk are 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.
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.