City of Racine Audited RDA Reports Show That Micah Waters Porters TID 17 Has Failed Since its’ Inception! While Racine Taxpayers Continue to Embrace the Suck!

From City of Racine Common Council Meeting Minutes, March 20, 2012:

Subject: Communication from the Director of City Development requesting to create Tax Incremental District No. 17 for the purpose of providing financial assistance for the redevelopment of the buildings at 301 Sixth Street and 608 Wisconsin Avenue. (PC-12) (Res. 12-3043) Recommendation of the City Plan Commission on 2-29-12: That the creation of Tax Incremental District No. 17 promotes orderly development in the City. Further recommends that Tax Incremental District No. 17 be created with the boundaries designated in the Project Plan. Further recommends that the Project Plan for Tax Incremental District No. 17, as adopted by the City Plan Commission on February 29, 2012, be approved. Fiscal Note: The purpose of this District is to foster the rehabilitation of the vacant buildings and surface parking lot that comprise the District and restore their economic vitality by renovating them for mixed residential and commercial use. The project plan calls for $1.1 million to be provided to assist the renovation. The $1.1 million will be advanced from the Intergovernmental Revenue Sharing Fund.

Screenshot below –

So the failed Porters TID 17 was approved on March 20, 2012; and Micah Waters, the owner of the property in that TID ,who was expected to pay his property taxes, frozen at the level of 2012 tax rates, to himself, to improve the property, failed to do so.

Just what did Micah Waters do?

He took City of Racine Taxpayers on a ride and has consistently failed to pay the required property taxes, while he retains control over an asset which is just a dirt brown hole on the ground!

All screenshots below are taken from City of Racine Independently Audited Financial Reports – available by clicking on the link: https://www.cityofracine.org/Finance/

From the 2013 City of Racine Independently Audited Financial Reports :

From the 2014 City of Racine Independently Audited Financial Reports :

From the 2015 City of Racine Independently Audited Financial Reports :

Are You Still in Racine?

Then, continue to “EMBRACE THE SUCK”!

That’s the Racine Way!

Frank Marino & Mahogany Rush “I’m A King Bee – Back Door Man” (live 1977)

 

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