The city of Rockford Planning & Development Committee met Jan. 17 to review a corporate tax forgiveness request.
Here are the meeting's minutes, as provided by the committee:
Planning & Development
Minutes
Tuesday, January 17, 2017
I. CALL TO ORDER
Alderman Durkee called the meeting to order at 6:31 pm.
Attendee Name Organization Title Status Arrived Tim Durkee City of Rockford Alderman Present Jamie Getchius City of Rockford Alderman Present Karen Elyea City of Rockford Alderman Present Linda McNeely City of Rockford Alderman Absent Pam Connell City of Rockford Alderman Present
Other Aldermen Present: Alderman Tom McNamara Alderman Kevin Frost Alderman Venita Hervey Alderman Ann Thompson-Kelly Alderman Jeanne Oddo Alderman Teena Newburg Alderman Frank Beach
II. RESOLUTIONS
A. Request by Zion Development Corporation for Forgiveness of Tax Increment
Financing Loan on Property located at 528 7th Street. The staff report that was attached to the agenda explained the details of the request by Zion Development Corporation for the forgiveness of a Seventh Street Tax Increment Financing loan for the property located at 528 7th Street. In exchange for the loan forgiveness, Zion Development Corporation will reinvest in the commercial property on the first floor. This item had been laid over from the January 3, 2017 meeting.
Alderman Getchius made a motion to approve the Resolution and Alderman Elyea seconded the motion. MOTION PREVAILED. 4-0 (Alderman McNeely Absent)
RESULT: APPROVED BY COMMITTEE [UNANIMOUS]
Next: 1/23/2017 5:30 PM AYES: Tim Durkee, Jamie Getchius, Karen Elyea, Pam Connell ABSENT: Linda McNeely
III. COMMITTEE REPORTS
A. Committee recommends approval of the Rockford Area Economic
Development Council (RAEDC) - 2017-2018 Contract for Service Agreement. The staff report that was attached to the agenda explained that the submitted Agreement for Services with the Rockford Area Economic Development Council (RAEDC). The Agreement is for calendar year 2017 and 2018 with a proposed annual budget of $150,000. The first $75,000 of the annual contract shall be given unencumbered in January of each year or within 30 days of the execution of the Agreement if executed later than January. The final payment of $75,000 shall be paid in July of each calendar year after an approved annual Work Plan has been agreed upon for the year and after the first two quarterly reports discussed herein have been received and accepted by the City. The proposed work plan was attached. The funding source is the Redevelopment Fund.
Alderman Elyea asked why RAEDC is no longer included in the Rockford Community Partners contract. Todd Cagnoni explained that they are I are part of the master agreement for Rockford Community Partners, however, they have always had a separate funding agreement. He explained the details.
Group discussed and after discussion, Alderman Getchius made a motion to approve the Committee Report and Alderman Connell seconded the motion. MOTION PREVAILED. 4-0 (Alderman McNeely Absent).
RESULT: APPROVED BY COMMITTEE [UNANIMOUS]
Next: 1/23/2017 5:30 PM AYES: Tim Durkee, Jamie Getchius, Karen Elyea, Pam Connell ABSENT: Linda McNeely
Alderman Getchius made a motion to adjourn, seconded by Alderman Connell. MOTION PREVAILED. Meeting adjourned at 6:52 p.m. It was taped in its entirety and will be on file in the Legal Department for a period of 18 months.
Respectfully Submitted, Nora Doyle, Planning & Development Secretary Phone: 779-348-7154
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