IMMEDIATE ADOPTION
Number
251039
Version
SUBSTITUTE
Reference
150383, 200378, 241347
Sponsor
ALD. BAUMAN
Title
Resolution approving Amendment No. 2 to the Project Plan and boundary for Tax Incremental District No. 84 (West McKinley & Juneau), and authorizing additional expenditures, and approving a development agreement and an amendment to an existing development agreement, in the 4th Aldermanic District.
Analysis
This resolution approves Amendment No. 2 to TID No. 84, which removes four parcels from the District, authorizes expenditures for the reconstruction of West Vliet Street and the construction of a public plaza on West Highland Avenue, approves a Development Agreement with Business Improvement District No. 15 to carry out the design and construction of the public plaza on behalf of the City, approves a 5th Amendment to the Bucks Arena Development Agreement and provides funding for TID administration.
Body
Whereas, On September 22, 2015, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 150383, which approved a Project Plan and created Tax Incremental District No. 84 (West McKinley and West Juneau)(the “District”); and
Whereas, on July 28, 2020, the Common Council adopted File No. 200378, which approved a First Amendment to the Project Plan for the District; and
Whereas, Pursuant to Section 66.1105(4)(h)(1), Wisconsin Statutes, on December 19, 2024, the Redevelopment Authority of the City of Milwaukee (“Authority”) conducted a public hearing on Amendment No. 2 to the Project Plan for the District (“Amendment”), approved the Amendment by resolution and submitted the Amendment, a copy of which is attached to the Common Council File, to the Common Council for its approval; and
Whereas, Section 66.1105(4)(g) and (h)(1), Wisconsin Statutes, provides that an amendment to a Project Plan shall be approved by the Common Council with the adoption of a resolution, which contains findings that such amendment is feasible and in conformity with the Master Plan of the City of Milwaukee (“City”); and
Whereas, The City and Business Improvement District No. 15 (“BID”) will enter into a Development Agreement (“Development Agreement”), which will require the City to fund a grant not to exceed $5,000,000 toward the design, engineering and construction of public improvements related to a public plaza on West Highland Avenue, adjacent to the Milwaukee River; and
Whereas, The City, the Redevelopment Authority of the City of Milwaukee and Deer District LLC entered into a Cooperation, Contribution and Development Agreement on December 22, 2015, (“Bucks Arena Development Agreement”) related to the development of Fiserv Forum and other ancillary development within the District, which needs to be amended pursuant to Section 7.7 Bucks Arena Development Agreement to allow for the Amendment to the District and the Development Agreement with the BID; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that it finds and determines as follows:
1. The Amendment changes the existing boundaries and designates and approves an amended boundary of the District. The amendment removes four parcels comprising approximately 2.13 acres from the District. However, the findings made in Common Council File No. 150383, pursuant to Section 66.1105(4)(gm)1 and 4, Wisconsin Statutes, are unchanged.
2. The District remains a “blighted area” within the meaning of Section 66.1105(2)(ae)1., Wisconsin Statutes.
3. The Amendment revises the project costs to be supported by the District and revises the Economic Feasibility Report that is part of the Project Plan and makes related changes regarding the timing of project costs and methods of financing. The improvement and/or development of such area are/is likely to enhance significantly the value of substantially all of the other real property in and adjoining the District.
4. The project costs provided in the Amendment relate directly to promoting development consistent with the City’s Master Plan and with the purpose(s) for which the District was created under Section 66.1105(4)(gm)4a., Wisconsin Statutes.
5. The percentage of the aggregate value of the equalized taxable property of the District, plus the incremental value of all other existing Tax Incremental Districts within the City, does not exceed the statutory maximum 12 percent of the aggregate value of total equalized value of taxable property within the City; and, be it
Further Resolved, That the Amendment is approved and the Project Plan for the District, as amended is feasible, in conformity with the Master Plan for the City and will promote the orderly development of the City; and, be it
Further Resolved, That the District is amended as of January 1, 2025, and that the boundaries of the District are approved as described and more precisely set forth in the Plan; and, be it
Further Resolved, That:
1. The City Clerk is directed to notify the Wisconsin Department of Revenue, in such form as may be prescribed by said Department, of the approval of this Amendment pursuant to the provisions of Section 66.1105(5), Wisconsin Statutes.
2. The City Comptroller is directed to transfer the sum of $8,400,000, plus up to 10 percent for capitalized interest, from the Parent TID Account to Project Account No. TD08480000 for the purpose of provide funds necessary to implement the Amendment.
3. The City Comptroller, in conjunction with the Commissioner of the Department of City Development (“DCD”), is directed to perform such acts and to create such accounts, and subaccounts and make appropriate transfers, upon written request by DCD, for all revenue or expenditure activity under this resolution.
4. That the proper City officials are directed to enter into a Development Agreement with the Downtown Riverwalk Business Improvement District No. 15 for the purposes of implementing the Amendment.
5. That the proper City officials are directed to execute any additional documents and instruments necessary to carry out the purposes of the Amendment including, without limitation, a fifth amendment to the Bucks Arena Development Agreement.
Drafter
DCD:Alyssa.Remington:aer
10/10/25