Number
021194
Version
ORIGINAL
Reference
010322
Sponsor
ALD. HENNINGSEN
Title
Resolution approving Amendment No. 1 to the Project Plan for Tax Incremental District No. 46 (New Arcade Project) in the 4th Aldermanic District. (DCD)
Analysis
This resolution will fulfill statutory requirements for amending the Project Plan for TID No. 46. The amendment revises the Project Plan to provide assistance for the redevelopment of the Plankinton Arcade portion of the Shops of Grand Avenue. This resolution authorizes the Commissioner 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)l., Wisconsin Statutes, permits the Redevelopment Authority of the City of Milwaukee ("Authority"), subject to the approval of the Common Council of the City of Milwaukee ("Common Council"), to amend the Project Plan for a Tax Incremental District; and
Whereas, The Common Council on September 5, 2001 passed File No. 010322 approving a Project Plan and creating Tax Incremental District No. 46 (New Arcade Project); and
Whereas, Pursuant to Section 66.1105(4)(h)l., Wisconsin Statutes, and following the required notice and public hearing, the Authority adopted Amendment No. 1 to the Project Plan for Tax Incremental District No. 46 ("Amendment"), a copy of which is attached to this Common Council File; and
Whereas, The Authority has submitted said 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 Authority 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 ("City"), 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)l., 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 Tax Incremental District No. 46, City of Milwaukee, that it finds and determines as follows:
1. The Amendment retains the existing boundaries of the District and does not alter the number of properties within the District. Therefore, the findings made in File No. 010322, pursuant to Section 66.1105(4)(gm)l. and 4., Wisconsin Statutes, are unchanged.
2. The Amendment retains the existing seven-year expenditure period for the District.
3. 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 Project Plan for said 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:
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 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 Common Council File.
3. The City Comptroller is authorized and directed to increase Tax Incremental District No. 46, Account No. TD04680000, by the amount of $5,540,000 from the Parent TID Account, such funds shall be approved by the Common Council through usual budgetary procedures and made available upon request by the Commissioner of City Development.
4. The Commissioners 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 Amendment.
5. The City Comptroller, in conjunction with the Commissioner 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 Amendment and the intent of this Common Council File.
6. The Authority and all other City officials, departments, boards, authorities and commissions also are requested, authorized and directed to take all necessary actions and to provide all necessary assistance as may from time to time be needed by the above identified officials to carry out the Amendment and intent of this Common Council File.
7. The City Clerk is directed to transmit a certified copy of this Common Council Resolution, with a copy of the Amendment, to the Commissioner of Public Works, Commissioner of Neighborhood Services, Commissioner of City Development, Assessment Commissioner, and the City Engineer for administrative and/or informational purposes and to the Joint Review Board established by the Common Council in File No. 84-202, adopted June 12, 1984, for review in accordance with the procedures and criteria set forth in Section 66.1105(4m), Wisconsin Statutes.
Drafter
DCD:DJM:djm
11/26/02/B