City of Racine - File #: Res.0240-18

• File #: Res.0240-18
• Version: A
• Name: Transfer Financial Assistance Incentive Received by Vista Dental Products to Inter-Med, Inc.
• Type: Resolution
• Status: Passed
• File created: 8/6/2018
• In control: City Attorney's Office
• On agenda: 8/6/2018
• Final action: 8/6/2018
• Title: Transfer Financial Assistance Incentive Received by Vista Dental Products to Inter-Med, Inc. Resolved, that the financial assistance incentive received by Vista Dental Products is approved to be transferred to its successor purchaser, Inter-Med, Inc. Fiscal Note: This development incentive, approved in 2015, reimburses the company 75% of the property tax annually generated by the development for a ten year period. The monies from this incentive are budgeted in the City's Intergovernmental Sewer Sharing Fund account for the term of the agreement. To date, the City of Racine has reimbursed the company a total of $27,092.69.
• Sponsors: Q.A. Shakoor II
• Related files: 0761-18

Date	Ver.	Action By	Action	Result
8/6/2018	A	Common Council	Approved as Presented	Pass

Sponsor

Alderman Shakoor

Title

Transfer Financial Assistance Incentive Received by Vista Dental Products to Inter-Med, Inc.

Resolved, that the financial assistance incentive received by Vista Dental Products is approved to be transferred to its successor purchaser, Inter-Med, Inc.

Fiscal Note: This development incentive, approved in 2015, reimburses the company 75% of the property tax annually generated by the development for a ten year period. The monies from this incentive are budgeted in the City's Intergovernmental Sewer Sharing Fund account for the term of the agreement. To date, the City of Racine has reimbursed the company a total of $27,092.69.