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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
On agenda: 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...
Attachments: 1. CITY OF RACINE ABM - @NorthBeach amend.pdf, 2. Racine Harborside TID Financing Addendum - 2019-08-12.pdf, 3. #0906-19 Resolution.pdf

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.