Subject: Communication sponsored by Mayor Mason, requesting to permission that the Mayor and the City Clerk enter into a development agreement with the CDA and Neumann Companies, LLC, regarding the Giese School Property located at 5120 Byrd Ave. Recommendation of the Finance and Personnel Committee on 07-27-2026: That the Mayor and the City Clerk or their designees be authorized to enter into a development agreement with the Community Development Authority of the City of Racine and Neumann Companies, LLC, for the development of the Giese School Property located at 5120 Byrd Ave. Fiscal Note: TID 31 infrastructure funds would be used in the following ways and amounts: Approximately 2.3 million dollars for the installation of roads, utilities, sewers, water mains, street lighting, electric and gas utilities. 1.7 million dollars for down payment assistance on finished homes ($50,000 per lot). $300,000 of storm sewer infrastructure would also be funded by Account # 60484 - 59200 Storm Water Contribution.

Communication Passed Introduced July 16, 2026

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