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Title:
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Subject: (Direct Referral) Communication from Mayor Mason seeking an amendment to the developer incentive agreement with The Main Attraction, LLC for the Redevelopment of an 80-unit Boutique Hotel, restaurant, roof-top bar, café, banquet facility.
Recommendation of Mayor Mason on 11-16-2021: That the amendment to the Developer Incentive Agreement between the City of Racine and The Main Attraction, LLC. for the Redevelopment of an 80-unit Boutique Hotel, restaurant, roof-top bar, banquet facility and meeting rooms, in and on the former "Zahn's Department Store" property at 500 Main Street along Monument Square be approved and that the Mayor and City Clerk be authorized to execute the Amendment and all associated documents on behalf of the City of Racine.
Fiscal Note: City loan to developer will increase by $1 million. Funds are available in the intergovernmental revenue sharing fund.
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