City of Racine - File #: 0563-21

• File #: 0563-21
• Version: A
• Name: Subject: Communication sponsored by Chairman Tate requesting authorization for the Mayor and City Clerk to sign a revised agreement with the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) to fund up to seven buses and agreeing
• Type: Communication
• Status: Passed
• File created: 7/7/2021
• In control: Finance and Personnel Committee
• Final action: 7/20/2021
• Title: Subject: Communication sponsored by Alder Tate II. requesting authorization for the Mayor and City Clerk to sign a revised agreement with the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) to fund up to seven 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 07-12-2021: To Approve Fiscal Note: Up to $1,247,532 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
7/20/2021	A	Common Council	Approved	Pass
7/12/2021	A	Finance and Personnel Committee	Recommended For Approval	Pass

Title

Subject: Communication sponsored by Alder Tate II. requesting authorization for the Mayor and City Clerk to sign a revised agreement with the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) to fund up to seven 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 07-12-2021: To Approve

Fiscal Note: Up to $1,247,532 in reduced state shared revenue payments amortized over ten annual installments at zero percent interest starting the year that the reimbursement occurs.