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Subject: Consider RDA resolution 17-05 recommending approval of a Redevelopment Authority budget and requesting that funding allocated to the Redevelopment Authority (RDA) in various accounts in the 2017 City budget be consolidated into a single allocation account in order to better track projects of the Authority. (Res No. 0051-17)
Recommendation of the Redevelopment Authority on 2-6-17: That an annual budget for the Redevelopment Authority be created using funds allocated to the RDA from the Intergovernmental Revenue Fund that currently supports programs and projects of the RDA and consolidating the budget allocations for the various programs into a single allocation account will allow for better transparency and oversight.
Recommendation of the Finance & Personnel Committee on 2/13/17: Funding allocated to the Redevelopment Authority in various accounts in the 2017 City budget be consolidated into a single allocation account in order to better track projects of the Authority.
Fiscal Note: Funds have been appropriated in the 2017 City budget for the programs and projects of the RDA. $100,000 of Business Development, $250,000 of Redevelopment Activities and $300,000 of Land Improvements for a total of $650,000 will be consolidated in the Allocation account. All RDA project expenditures will then be processed out of Racine Redevelopment Authority Fund 950.