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15-00955
| A | | Development Agreement Extension (Res No. 15-0411) | Communication | Subject: (Direct Referral) Consideration of certain amendments to the development agreement between the Redevelopment Authority of the City of Racine, the City of Racine, and FDP MR, LLC. (Res No. 15-0411)
Recommendation of the Redevelopment Authority on 10-26-15: That the First Amendment to the Development Agreement between FDP MR, LLC, the City of Racine and the Redevelopment Authority of the City of Racine as executed on February 4, 2015, be entered into.
Further, that the Mayor, City Clerk, City Finance Director, City Attorney, the Authority Chairman, and the Acting Executive Director of the Authority be authorized to sign all documents, and take all necessary action to undertake, direct, and complete the execution of the First Amendment.
Fiscal Note: The cost to engage the services of a consultant to assist in project planning and management are to be paid from funds placed in escrow by FDP. | Recommended For Approval | Pass |
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15-00855
| A | | SBDRL Policies and Procedures (Res No. 15-0412) | Communication | Subject: (Direct Referral) Review of administrative policies and procedures for the Small Business Development Revolving Loan Program. (Res No. 15-0412)
Recommendation of the Redevelopment Authority on 10-26-15: That the document titled "Small Business Development Revolving Loan Fund Program Policies" be approved and that the Department of City Development Staff be authorized to take all necessary and prudent measures to implement the program.
Fiscal Note: The Community Development Committee and Common Council allocated $371,454.00 of Community Development Block Grant (CDBG) funds through the 2015 Annual Plan for the purposes of assisting business, and, as such, there are sufficient resources available to fund this project. | Recommended For Approval | Pass |
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15-00953
| A | | Commuter Rail Service Study Authorization (Res No. 15-0413) | Communication | Subject: (Direct Referral) Authorization of study for commuter rail services. (Res No. 15-0413)
Recommendation of the Redevelopment Authority on 10-29-15: That the the request for authorization for a study of commuter rail services between Racine and Kenosha be approved and that the Mayor, City Clerk, Executive Director, or their designee or authorized agent act on the behalf of the City to sign all documents, and take all necessary action to undertake, direct, and complete the commuter rail study with funding not to exceed $30,000.00.
Fiscal Note: There are sufficient funds available in the Intergovernmental Revenue Sharing Fund Department of City Development's Redevelopment Activities account. | Recommended For Approval | Pass |
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15-00956
| A | | Capital Catalyst program (Res No. 15-0414) | Communication | Subject: (Direct Referral) A request from the Racine County Economic Development Corporation to allocate $100,000.00 from Intergovernmental Revenue Sharing Funds for a new Capital Catalyst loan program for the City of Racine and to approve the Policy Manual for the program. (Res No. 15-0414)
Recommendation of the Redevelopment Authority on 10-26-15: That the request by RCEDC for $100,000.00 in matching funds to establish a Capital Catalyst program be approved and that the Capital Catalyst program be administered in accordance with the manual developed by RCEDC to establish policies and procedures for the administration of the program.
Fiscal Note: Sufficient funds are available in the Intergovernmental Revenue Sharing Funds. | Recommended For Approval | Pass |
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15-00954
| A | | Deed Restrictions 410 Main Street (Res No. 15-0471) | Communication | Subject: (Direct Referral) Consideration of a release of restrictions pertaining to a development agreement and deed restriction for 410 Main Street. (Res No. 15-0471)
Recommendation of the Redevelopment Authority of the City of Racine on 12-7-15: Whereas, in 2005 a deed restriction was recorded by the RDA against the property requiring that no transfer of the property at 410 Main Street occur before an occupancy permit is received for the first floor, and
Whereas, the property has remained vacant since 2005 and the deed restriction has become an impediment to the redevelopment of the Property by blocking the pending sale of the Property.
Now therefore, the RDA recommends that the deed restriction described herein and recorded against the property at 410 Main Street be removed.
Fiscal Note: All costs associated with removal of the restriction from the deed will be borne by the petitioner. | Deferred | |
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15-00954
| A | | Deed Restrictions 410 Main Street (Res No. 15-0471) | Communication | Subject: (Direct Referral) Consideration of a release of restrictions pertaining to a development agreement and deed restriction for 410 Main Street. (Res No. 15-0471)
Recommendation of the Redevelopment Authority of the City of Racine on 12-7-15: Whereas, in 2005 a deed restriction was recorded by the RDA against the property requiring that no transfer of the property at 410 Main Street occur before an occupancy permit is received for the first floor, and
Whereas, the property has remained vacant since 2005 and the deed restriction has become an impediment to the redevelopment of the Property by blocking the pending sale of the Property.
Now therefore, the RDA recommends that the deed restriction described herein and recorded against the property at 410 Main Street be removed.
Fiscal Note: All costs associated with removal of the restriction from the deed will be borne by the petitioner. | Deferred | Pass |
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