City of Racine - File #: 0088-21

• File #: 0088-21
• Version: A
• Type: Communication
• Status: Passed
• File created: 2/4/2021
• In control: Finance and Personnel Committee
• Final action: 2/17/2021
• Title: Subject: Communication sponsored by Chairman Tate requesting authorization for the Mayor and City Clerk to sign an agreement with the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) to fund up to two buses and agreeing to a reduction of future State shared revenue payments to pay for the local share. Recommendation of the Finance and Personnel Committee on 02-08-2021: To Approve Fiscal Note: Up to $418,328 in reduced state shared revenue payments amortized over ten annual installments at zero percent interest starting the year that the reimbursement occurs.

Date	Ver.	Action By	Action	Result
2/17/2021	A	Common Council	Approved
2/8/2021	A	Finance and Personnel Committee	Recommended For Approval	Pass

Title

Subject: Communication sponsored by Chairman Tate requesting authorization for the Mayor and City Clerk to sign an agreement with the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) to fund up to two buses and agreeing to a reduction of future State shared revenue payments to pay for the local share.

Recommendation of the Finance and Personnel Committee on 02-08-2021: To Approve

Fiscal Note: Up to $418,328 in reduced state shared revenue payments amortized over ten annual installments at zero percent interest starting the year that the reimbursement occurs.