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11-6588
| A | | ButterBuds Financial Assistance | Communication | Subject: Communication from the Director of City Development requesting that the City provide financial assistance to ButterBuds Food Ingredients for the expansion of its operations in the City of Racine. (Res. 11-2655)
Recommendation of the Redevelopment Authority on 6-22-11: That Intergovernmental Sewer Revenue Sharing Funds be used for the financial assistance and that the Mayor and City Clerk be authorized to execute a financial assistance agreement with ButterBuds.
Fiscal Note: ButterBuds will be provided with assistance in the form of a "tax rebate". The estimated value of the rebate is $54,000 each year for ten years. (This estimate assumes no change in tax rate or assessed value). In exchange for the rebate, the company will commit to expand in Racine (retain 55 employees and add 22 more), acquire an adjacent property, and offer open positions to residents of the City of Racine. Funds for the rebate are available in the Intergovernmental Revenue Sharing (919) Account. | Recommended For Approval | Pass |
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11-6590
| A | | Façade Grant Program | Communication | Subject: Communication from the Director of City Development requesting that the City provide Intergovernmental Sewer Revenue Sharing funds for the continuation of the Façade Grant Program. | Deferred | Pass |
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