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10-5590
| A | 1. | Developers Agrmt. General Capital Mt. Pleasant | Communication | Subject: Developers Agreement for General Capital Mt. Pleasant LLC for Water Main Construction (Res.10-2223)
Recommendation of the Racine Waterworks Commission of 9-28-10: To approve. Refer to the Finance and Personnel Committee for approval.
Recommendation of the Finance & Personnel Committee of 10-11-10: The Mayor and City Clerk be authorized and directed to enter into an agreement with GenCap, Mt. Pleasant, LLC to construct and install local water facilities as defined in the City Municipal Code and the retail water service agreement dated 5-24-04.
Fiscal note: Fee estimation not to exceed $7,500 and remainder shall be payable within 30 days of each invoice rendered by Racine Water Utility to GenCap. | | |
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10-5619
| A | 2. | Mt. Pleasant Water Main Oversizing Agrmt. | Communication | Subject: Water Main Oversizing Agreement with the Village of Mt. Pleasant
Recommendation of the Racine Waterworks Commission on 9-28-10: To approve. Refer to the Finance and Personnel Committee for approval. (Res.11-2400)
Recommendation of the Finance & Personnel Committee on 02-07-11: That the Mayor and City Clerk be authorized to sign this agreement with Mt. Pleasant for the over sizing of a planned water main at the frontage road at I-94 and Highway 20.
Fiscal Note: Funds to defray this cost are provided for in the 2011 Capital Improvement Plan for the Racine Water Utility. Estimated cost of over sizing is $124,000. | | |
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10-5648
| A | 3. | Bond advisor to discuss refunding of the 2010 Capital Improvement Note Anticipation Note issued this past Summer of July 27, 2010. | Communication | Subject: Communication from the Finance Director requesting Brad Viegut of RW Baird and Company to appear before the Finance & Personnel Committee to discuss refunding of the 2010 Capital Improvement Note Anticipation Note issued this past Summer on July 27, 2010.
Recommendation of the Finance & Personnel Committee of 10-11-10: Authorization be granted to borrow sufficient funds to cover the 2010 Capital Improvement Projects.
Fiscal note: Note anticipation notes issuance of approximately $9,650,000 for 2010 CIP. Final debt amount will be determined by market conditions and total issuance costs. | | |
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10-5649
| A | 4. | Present the 2009 Financial Statements and Single Audit of the City of Racine. | Communication | Subject: Communication from the Assistant Finance Director requesting to present the 2009 Financial Statements and Single Audit of the City of Racine.
Recommendation of the Finance & Personnel Committee on 10-11-10: The 2009 City of Racine's Financial Statements be received and filed.
Fiscal note: N/A | | |
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10-5620
| A | 5. | 2011 CIP Interim Financing Options | Communication | Subject: Interim Financing Options for the 2011 Water Capital Improvement Program (Res.10-2224)
Recommendation of the Racine Waterworks Commission on 9-28-10: Refer to the Finance and Personnel Committee for approval.
Recommendation of the Finance & Personnel Committee on 10-11-10: Authorization be granted for the Racine Water Utility to make expenditures as needed from funds on hand, located in the Water fund and/or possibly a short term loan from the City of Racine to pay the costs of planning, engineering and construction of these improvements until the revenue bond proceeds become available.
Fiscal note: Reimbursement of expenditures with proceeds of the revenue bond issuance, the aggregate principle amount of debt expected to exceed $6,000,000. | | |
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10-5647
| A | 6. | RCEDC | Communication | Subject: Communication from the Director of City Development submitting a request by the Racine County Economic Development Corporation for a loan guarantee for Altus Vinyl LLC. (Res.10-2225)
Recommendation of the Redevelopment Authority on 10-4-10: that the Authority supports the use of $50,000.00 from the Intergovernmental Revenue Sharing Fund for a loan guarantee for Altus Vinyl, LLC; and further recommends that the guarantee be conditioned upon Altus Vinyl, LLC, agreeing to give preference to City of Racine residents when filling open positions; and further recommends that the Mayor and City Clerk be authorized and directed to execute a Limited Guarantee of Specific Transaction documenting such guarantee.
Recommendation of the Finance & Personnel Committee on 10-11-10: Permission be granted for the City of Racine to guarantee a loan not to exceed $50,000 in a 5-year term for Altus Vinal, LLC.
Fiscal note: The funds are available in the Intergovernmental Revenue Sharing (919) Account and will be utilized for purchasing assets of the former Dynaseal, Inc., general worki | | |
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