Number
250734
Version
SUBSTITUTE 1
Reference
030974, 110604, 130072, 141732
Sponsor
ALD. ZAMARRIPA
Title
Substitute resolution approving Amendment No. 4 to the Project Plan for Tax Incremental District No. 53, (Menomonee Valley Shops), and authorizing additional expenditures in the 4th, 8th, 10th and 12th Aldermanic Districts.
Analysis
This substitute resolution approves Amendment No. 4 to TID No. 53, Menomonee Valley Shops), authorizes the expenditure of $750,000 in additional project funding to provide $150,000 for public infrastructure improvements and $600,000 for commercial property renovations.
Body
Whereas, The Common Council of the City of Milwaukee (“Common Council”) adopted File No. 030974, on November 25, 2003 which approved a Project Plan (“Plan”) and created Tax Incremental District No. 53, Menomonee Valley Shops (“TID No. 53” or “District”); and
Whereas, The Common Council adopted File No. 110604, on September 20, 2011 which approved Amendment 1 to the Plan for the District; and
Whereas, The Common Council adopted File No. 130072, on May 21, 2013 which approved Amendment 2 to the Plan for the District; and
Whereas, The Common Council adopted File No. 141732, on March 31, 2015 which approved Amendment 3 to the Plan for the District; and
Whereas, Pursuant to Section 66.1105(4)(h)(1), Wisconsin Statutes, on August 21, 2025, the Redevelopment Authority of the City of Milwaukee (“Authority”) conducted a public hearing on Amendment No. 4 to the Project Plan for the District (“Amendment”), approved such Amendment by resolution and submitted such Amendment, a copy of which is attached to this 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 Amendment will fund public Riverwalk infrastructure improvements within one-half mile of the District’s boundaries; and
Whereas, Per Section 66.1105(5)(b), Wisconsin Statutes, the percentage of the territory within the District that will be devoted to retail business at the end of the maximum expenditure period is under 35%; now, therefore, be it
Resolved, By the Common Council of the 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. 030974, pursuant to Section 66.1105(4)(gm)l and 4, Wisconsin Statutes, are unchanged.
2. The Amendment revises the project costs to be supported by the District and revises the Economic Feasibility Analysis that is part of the Project Plan and makes related changes regarding the timing of project costs. The improvements and/or development of such area is likely to enhance significantly the value of substantially all of the other real property in and adjoining the District.
3. 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.
4. 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, 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:
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 $750,000, plus up to 10 percent for capitalized interest, from the Parent TID Account to Project Account No. 0336-1910-TD05380000 for the purpose of providing 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. The proper City officials are authorized to execute any documents or agreements necessary for the purposes of implementing the Amendment.
Drafter
DCD:Alyssa.Remington:aer
09/08/25