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Meeting Name: Finance and Personnel Committee Agenda status: Revised
Meeting date/time: 8/26/2019 5:00 PM Minutes status: Final  
Meeting location: City Hall, Room 307
Published agenda: Agenda Agenda Published minutes: Minutes Minutes  
Meeting video:  
Attachments:
File #Ver.Agenda #NameTypeTitleActionResultAction DetailsVideo
0977-19 A Subject: Communication sponsored by Mayor Mason regarding the 2019 Capital Borrowing and possible GO Debt refinancing opportunities. Staff Recommendation: Note Anticipation Notes in an amount of approximately $41,330,000 be issued for the City's 2019 SCommunicationSubject: Communication sponsored by Mayor Mason regarding the 2019 Capital Borrowing and possible GO Debt refinancing opportunities. Recommendation of the Finance & Personnel Committee on 08-26-2019: Note Anticipation Notes in an amount of approximately $14,330,000 be issued for the City's 2019 Short and Long term capital borrowing. Additionally, if the market conditions remain favorable, callable portions of the 2009 and 2010 GO Refunding Bonds be refinanced. Fiscal Note: Long term capital projects of $11,085,000 and equipment of $3,245,000 have been approved and budgeted in 2019 through this borrowing. Saving of approximately $100,000 may be realized through refinancing 2009 and 2010 debt.Recommended For ApprovalPass Action details Not available
0906-19 A Subject: Communication sponsored by Mayor Mason requesting to approve an Amendment to the Development Agreement between the City of Racine and Racine Harborside, LLC for the @North Beach Project memorializing the City’s commitment to cover the extraordinaCommunicationSubject: Communication sponsored by Mayor Mason requesting to approve Addendum 1 to the Tax Increment Financing Agreement, Tax Increment District 14, between the City of Racine and Racine Harborside, LLC for the @North Beach Project memorializing the City’s commitment to cover the extraordinary costs of extending regional infrastructure additions to the sanitary sewer system at a cost not to exceed $595,000 to be funded from TID #14 reserves. Recommendation of the Finance & Personnel Committee on 08-12-2019: To approve Addendum 1 to the Tax Increment Financing Agreement, Tax Increment District 14, between the City of Racine and Racine Harborside, LLC., for the @North Beach Project, as presented. Recommendation of the Finance & Personnel Committee on 08-26-2019:That this item be deferred until information needed is provided. Fiscal Note: A cost not to exceed $595,000 shall be funded from Tax Increment District 14 reserves.DeferredPass Action details Not available
0932-19 A  CommunicationSubject: Communication sponsored by Alder Shakoor II, on behalf of the Purchasing Agent submitting bid results for Official Notice #14 Tree Removal & Stump Treatment at Lincoln Park. Recommendation of the Finance & Personnel Committee on 08-26-2019: That the contract for Official Notice #14-2019 Tree Removal & Stump Treatment at Lincoln Park be awarded to Trees R Us, at their bid price of $28,327.00 they being the lowest responsive, responsible bidder. Fiscal Note: Funds for this project is available in account 45150 57110, Parks Land Improvements in the amount of $28,327.00.Recommended For ApprovalPass Action details Not available
0969-19 A Subject: Communication sponsored by Alder Land on behalf of Tom Molbeck, submitting change order for Purchase Order #1900440 Original contract amount: $46,070 Additional Sod Installation: $45,000 Total: $91,070CommunicationSubject: Communication sponsored by Alder Land on behalf of Tom Molbeck, submitting change order #1 for purchase order #1900440 Vassh Excavating and Grading for official notice #17-2019 Baseball Diamond Field Restoration for Horlick Field to be replaced with sod. Recommendation of the Finance & Personnel Committee on 08-26-2019: Change Order #1900440, Vassh Excavating and Grading for Official Notice #17-2019 Baseball Diamond Field Restoration for Horlick Field be replaced with sod. Fiscal Note: Funding for this project is available in account 45050 57110 Parks - Land Improvements for the amount of $45,000.Recommended For ApprovalPass Action details Not available
0230-19 A  CommunicationSubject: Communication sponsored by Alder Weidner requesting a quarterly update, as required in Res.0078-18, in regards to the specific expenditures allocated from the $900,000 in intergovernmental funds. Recommendation of the Finance & Personnel Committee on 03-11-2019: That this item be deferred to the next scheduled Finance & Personnel Committee meeting held on Monday, March 25, 2019. Recommendation of the Finance & Personnel Committee on 03-25-2019: That this item be deferred pending Gateway Technical College's quarterly report to the State of Wisconsin Department of Workforce Development. Recommendation of the Finance & Personnel Committee on 08-26-2019: That this item be deferred to allow for Gateway Technical College, YMCA, Big Step and RCEDC to provide more detailed information on the quarterly report. Fiscal Note: N/ADeferredPass Action details Not available