Number
090623
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. BOHL, BAUMAN AND WADE
Title
A substitute ordinance relating to the inclusion of street-paving costs in the project plans for newly-created tax incremental districts.
Sections
304-95 cr
Analysis
This ordinance requires the department of city development to include, as project costs in the project plan for any new tax incremental district, the costs of all street paving projects anticipated to occur within the district and within one-half mile of the district’s boundaries within the next 6 years, as identified by the city’s most recent 6-year local street paving program.
Body
Whereas, Section 66.1105(2)(f), Wis. Stats., allows for tax incremental financing to be used to fund the costs of public works or improvements outside a tax incremental district but within one-half mile of the district’s boundaries; and
Whereas, This statutory provision presents an opportunity for the City of Milwaukee to use tax incremental financing to fund street paving and construction projects within one-half mile of tax incremental district boundaries, thereby freeing up street paving dollars in the City’s regular capital budget for use on street projects in areas more than one-half mile from a district; now, therefore
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 304-95 of the code is created to read:
304-95. Tax Incremental Districts-Inclusion of Street Paving Costs in Project Plans. In preparing the project plan for any new tax incremental district, the department of city development shall include in the plan, as project costs, the costs of all street paving projects anticipated to occur within the district and within one-half mile of the district’s boundaries within the next 6 years, as identified by the city’s most recent 6-year local street paving program. The department of city development shall consult with the department of public works in identifying all street paving projects to be included in the project plan.
LRB
APPROVED AS TO FORM
__________________________
Legislative Reference Bureau
Date:______________________
Attorney
IT IS OUR OPINION THAT THE ORDINANCE
IS LEGAL AND ENFORCEABLE
__________________________
Office of the City Attorney
Date:______________________
Requestor
Drafter
LRB09374-3
JDO
09/15/2009