City of Racine - File #: 0906-19

• File #: 0906-19
• Version: A
• Name: Subject: Communication sponsored by Mayor Mason requesting to approve an Amendment to the Development Agreement between the City of Racine and Racine Harborside, LLC for the @North Beach Project memorializing the City’s commitment to cover the extraordina
• Type: Communication
• Status: Filed
• File created: 8/6/2019
• In control: Finance and Personnel Committee
• Final action: 9/23/2019
• Title: Subject: Communication sponsored by Mayor Mason requesting to approve Addendum 1 to the Tax Increment Financing Agreement, Tax Increment District 14, between the City of Racine and Racine Harborside, LLC for the @North Beach Project memorializing the City’s commitment to cover the extraordinary costs of extending regional infrastructure additions to the sanitary sewer system at a cost not to exceed $595,000 to be funded from TID #14 reserves. Recommendation of the Finance & Personnel Committee on 08-12-2019: To approve Addendum 1 to the Tax Increment Financing Agreement, Tax Increment District 14, between the City of Racine and Racine Harborside, LLC., for the @North Beach Project, as presented. Recommendation of the Finance & Personnel Committee on 08-26-2019:That this item be deferred until information needed is provided. Recommendation of the Finance & Personnel Committee on 09-23-2019: To Receive and File. Fiscal Note: A cost not to exceed $595,000 shall be funded from Tax Incr...

Date	Ver.	Action By	Action	Result
9/23/2019	A	Finance and Personnel Committee	Recommended to be Received and Filed	Pass
8/26/2019	A	Finance and Personnel Committee	Deferred	Pass
8/20/2019	A	Common Council	Deferred	Fail
8/20/2019	A	Common Council	Amended	Pass
8/20/2019	A	Common Council	Referred	Pass
8/12/2019	A	Finance and Personnel Committee	Recommended For Approval	Pass

Title

Subject: Communication sponsored by Mayor Mason requesting to approve Addendum 1 to the Tax Increment Financing Agreement, Tax Increment District 14, between the City of Racine and Racine Harborside, LLC for the @North Beach Project memorializing the City’s commitment to cover the extraordinary costs of extending regional infrastructure additions to the sanitary sewer system at a cost not to exceed $595,000 to be funded from TID #14 reserves.

Recommendation of the Finance & Personnel Committee on 08-12-2019: To approve Addendum 1 to the Tax Increment Financing Agreement, Tax Increment District 14, between the City of Racine and Racine Harborside, LLC., for the @North Beach Project, as presented.

Recommendation of the Finance & Personnel Committee on 08-26-2019:That this item be deferred until information needed is provided.

Recommendation of the Finance & Personnel Committee on 09-23-2019: To Receive and File.

Fiscal Note: A cost not to exceed $595,000 shall be funded from Tax Increment District 14 reserves.