Title
Subject: (Direct Referral) Request from the Assistant Director of City Development seeking authorization to commit matching funds for the implementation efforts related to the plan titled "RootWorks - Revitalizing Racine's Urban River Corridor, Root River Corridor Redevelopment Plan." (Res. No. 14-0076)
Recommendation of the Redevelopment Authority on 2-3-14: That the Authority supports the use of $40,000.00 from the Intergovernmental Revenue Sharing Fund to assist the Racine County Economic Development Corporation (RCEDC) in its role as lead partner in the implementation of the Plan.
Further, that the Common Council continue use of Sewer Agreement funds to assist the Racine County Economic Development Corporation (RCEDC) in its on-going role as lead partner in the implementation of the Plan.
Fiscal Note: The City's funds of $40,000.00 leverages an additional $85,000.00 from outside grant sources to support implementation efforts of the Plan. Funds are available in the Intergovernmental Revenue Sharing Fund.
Recommendation of the Finance & Personnel Committee on 2-24-14: To authorize the Common Council continue use of Sewer Agreement funds of $40,0000 to assist the Racine County Economic Development Corporation (RCEDC) in its on-going role as lead partner in the implementation of the Plan.
Fiscal Note: The City's funds of $40,000.00 leverages an additional $85,000.00 from outside grant sources to support implementation efforts of the Plan. Funds are available in the Intergovernmental Revenue Sharing Fund.