Number
001260
Version
SUBSTITUTE 1
Reference
931957
Sponsor
THE CHAIR
Title
Substitute resolution approving Amendment No. 1 to the Project Plan for Tax Incremental District Number Twenty-Four (Riverworks Industrial Center) in the 3rd and 6th Aldermanic Districts.
Analysis
This substitute resolution fulfills statutory requirements for amending the Project Plan for Tax Incremental District Number Twenty-Four. The amendment revises the Project Plan to provide assistance for additional redevelopment in the Riverworks industrial area around East Capitol Drive and North Holton Street. This resolution authorizes the Commissioner of the Department of City Development, other public officials, and the Redevelopment Authority of the City of Milwaukee to take such actions as are necessary to accomplish the objectives of the amended Project Plan and also authorizes the City Comptroller to create the necessary and appropriate Subaccounts for Plan implementation.
Body
Whereas, Section 66.1105(4)(h)1, Wisconsin Statutes, permits the City Plan Commission, subject to the approval of the Common Council, to amend the Project Plan for a Tax Incremental District; and
Whereas, The Common Council of the City of Milwaukee on June 28, 1994 passed File No. 931957 approving a Project Plan and creating Tax Incremental District Number Twenty-Four (Riverworks Industrial Center); and
Whereas, On January 22, 2001, pursuant to Section 66.1105(4)(h)1, Wisconsin Statutes, and following the required notice and public hearing, the City Plan Commission adopted Amendment No. 1 to the Project Plan for Tax Incremental District Number Twenty-Four ("Amendment"), a copy of which is attached to this Common Council File; and
Whereas, The City Plan Commission has submitted the Amendment 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 for a Tax Incremental District shall be approved by the Common Council prior to or concurrent with the adoption of a resolution by the Common Council which contains findings that such amendment is feasible and in conformity with the master plan of the city; and
Whereas, The Amendment was duly reviewed and considered by the Zoning, Neighborhoods and Development Committee and determined to be feasible; by the City Plan Commission and determined to be sufficiently complete in detail to establish that the public works and improvements and the land uses proposed conform with the Master Plan for the City of Milwaukee, as amended to date; and by the City Attorney and determined to be complete and compliant with Section 66.1105(4)(f), Wisconsin Statutes; and
Whereas, Pursuant to Section 66.1105(4)(h)1, Wisconsin Statutes, the Amendment is further subject to review by the Joint Review Board and will be submitted to the Board for review upon passage of this resolution; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee regarding Amendment No. 1 to the Project Plan for Tax Incremental District Number Twenty-Four, City of Milwaukee, that it finds and determines as follows:
1. As implementation of the Project Plan ("Plan") for the District has proceeded, it has become necessary to address new redevelopment opportunities and accommodate changes in the types and amount of project related costs.
2. The Amendment changes the existing boundaries of the District and adds 67 parcels comprising approximately 69 acres to the District. However, the findings made in Common Council File No. 931957, pursuant to Section 66.1105(4)(gm)1 and 4, Wisconsin Statutes, are unchanged.
3. The Amendment retains the existing ten-year expenditure period for the District.
4. The Amendment revises the Economic Feasibility Study that is a part of the Plan, adds projects to be supported by the District, and makes related changes regarding project costs and financing; and, be it
Further Resolved, That the Amendment is approved by the Common Council and that the Plan for said District, as amended, is feasible, in conformity with the Master Plan for the City of Milwaukee, and will promote the orderly development of the City of Milwaukee; and, be it
Further Resolved, That:
1. The City Clerk is authorized and 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)(cm), Wisconsin Statutes.
2. The Commissioner of the Department of City Development or her designee(s), is authorized and directed to act on behalf of the Common Council as coordinator of all Tax Incremental District ("TID") related activities which, in her judgment, are necessary to carry out the Plan and intent of this resolution.
3. The City Comptroller is authorized and directed to increase Tax Incremental District Number Twenty-Four by the amount of $2,440,600 from the Parent TID Account No. TD00000000 to the Project Account No. TD02480000, such funds shall be approved by the Common Council through usual budgetary procedures and made available upon request by the Commissioner of the Department of City Development.
4. The Commissioners of the Department of City Development and Public Works and the City Engineer are authorized and directed to take such actions as are necessary, including execution of contracts to finance, design, engineer and construct the proposed improvements in accordance with the objectives of the approved Plan.
5. The City Comptroller, in conjunction with the Commissioner of the Department of City Development, is authorized and directed to perform such acts and to create such Subaccounts as are necessary to maintain the fiscal control required to carry out the Plan and the intent of this resolution.
6. The Redevelopment Authority of the City of Milwaukee and all other City officials, departments, boards, authorities and commissions are requested, authorized and directed to take all necessary actions and to provide all necessary assistance as may be needed by the above-identified officials to carry out the Plan and intent of this resolution.
7. The City Clerk is directed to transmit a certified copy of this resolution, along with a copy of the Amendment, to the Commissioner of Public Works, the Commissioner of the Department of Neighborhood Services, the Commissioner of the Department of City Development, the Assessment Commissioner, and the City Engineer for administrative and/or informational purposes and to the Joint Review Board for review in accordance with the procedures and criteria set forth in Section 66.1105(4m), Wisconsin Statutes.
Drafter
DCD:BOC:boc
02/13/01