City of Racine - File #: 0078-23

• File #: 0078-23
• Version: A
• Name: Subject: Communication sponsored by Mayor Mason seeking approval to enter into a second amendment to the development agreement with HOVDE Properties, LLC, regarding the Redevelopment Site at and near 233 Lake Avenue
• Type: Communication
• Status: Passed
• File created: 1/26/2023
• In control: Finance and Personnel Committee
• On agenda: 2/7/2023
• Final action: 2/7/2023
• Title: Subject: Communication sponsored by Mayor Mason seeking approval to enter into a Second Amendment to the development agreement with HOVDE Properties, LLC, regarding the Redevelopment Site at and near 233 Lake Avenue. Recommendation of the Finance and Personnel Committee on 01-30-2023: That the Mayor and City Clerk be granted permission to enter into the Second Amendment with HOVDE Properties, LLC, and execute all necessary documents therein. Fiscal Note: Additional $3.5M will be paid from resources available in TID #14. These funds can only be used for development purposes and only for project costs included in the respective TID Project Plans. No funds will be dispensed until occupancy.

Date	Ver.	Action By	Action	Result
2/7/2023	A	Common Council	Approved	Pass
1/30/2023	A	Finance and Personnel Committee	Recommended For Approval

Title

Subject:  Communication sponsored by Mayor Mason seeking approval to enter into a Second Amendment to the development agreement with HOVDE Properties, LLC, regarding the Redevelopment Site at and near 233 Lake Avenue.

Recommendation of the Finance and Personnel Committee on 01-30-2023:  That the Mayor and City Clerk be granted permission to enter into the Second Amendment with HOVDE Properties, LLC, and execute all necessary documents therein. 

Fiscal Note:  Additional $3.5M will be paid from resources available in TID #14. These funds can only be used for development purposes and only for project costs included in the respective TID Project Plans.  No funds will be dispensed until occupancy.