City of Milwaukee - File #: 050592

• File #: 050592
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 9/7/2005
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 9/27/2005
• Title: Substitute resolution approving a Project Plan and creating a Tax Incremental District (Milwaukee Intermodal Passenger Station Project) in the 4th Aldermanic District.
• Sponsors: ALD. BAUMAN
• Indexes: BUS SERVICE, RAILROADS, TAX INCREMENTAL DISTRICTS, TRANSPORTATION

Date	Ver.	Action By	Action	Result	Tally
10/6/2005	1	MAYOR	SIGNED
9/27/2005	1	COMMON COUNCIL	ADOPTED	Pass	15:0
9/20/2005	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Speakers: John Hyslop, Robert Greenstreet and Jim Scherer- Dept. of City Development Tracy Gillingham - designer project manager for the Marquette Interchange Bill Heberline - facility manager for the current station and part of the design team	Pass	5:0
9/15/2005	1	CITY CLERK	DRAFT SUBMITTED
9/14/2005	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/7/2005	0	COMMON COUNCIL	ASSIGNED TO

Number
050592
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. BAUMAN
Title
Substitute resolution approving a Project Plan and creating a Tax Incremental District (Milwaukee Intermodal Passenger Station Project) in the 4th Aldermanic District.
Analysis
This substitute resolution approves a tax incremental district Project Plan to redevelop the current Amtrak Station at 433 West St. Paul Avenue as well as adjacent underdeveloped sites and buildings. The Project Plan proposes funding for a $6 million, three-story, galleria addition to the north face of the station, which will be redeveloped by Milwaukee Intermodal Partners, LLC to provide approximately 10,000 square feet of space for Amtrak and Greyhound Bus Lines for ticketing and related services; 4,000 square feet to be leased to retail businesses serving rail and bus passengers; and 27,300 square feet to be leased to office users.

The Project Plan also anticipates the redevelopment of nearby surface parking lots and warehouses into condominiums, structured parking, and office and retail space.

The estimated payback period for the tax incremental district is twenty-one to twenty-five years.
Body
Whereas, Chapter 105 of the Laws of 1975 of the State of Wisconsin, with amendments from other chapters of said Laws, created Section 66.1105, Wisconsin Statutes, titled “Tax Increment Law;” and

Whereas, Section 66.1105(4) of the Tax Increment Law sets forth certain criteria that the Common Council of the City of Milwaukee (“Common Council”) and the Redevelopment Authority of the City of Milwaukee (“Redevelopment Authority”) must follow to create a Tax Incremental District (“TID”) and approve a Project Plan for the TID; and

Whereas, Pursuant to Section 66.1105(4)(a) through (gm), Wisconsin Statutes, the Redevelopment Authority conducted a public hearing on the Project Plan for the Milwaukee Intermodal Passenger Station Project Tax Incremental District (“District”), designated the boundaries of the District, re...