Number
160299
Version
ORIGINAL
Reference
000428, 051108, 130246
Sponsor
ALD. COGGS
Title
Resolution approving Amendment No. 3 to the Project Plan and authorizing expenditures for Tax Incremental District No. 41 (Time Warner Riverwalk), in the 6th Aldermanic District.
Analysis
Tax Incremental District No. 41 was created in 2000 for the purpose of riverwalk and other improvements related to the conversion of a former WE Energies power plant into offices for Time Warner, Inc. The District was amended in 2006 to construct a parking ramp and riverwalk associated with Manpower, Inc.’s relocation to downtown Milwaukee. The District was amended in 2013 to fund additional public improvements to North 2nd Street and West Galena Street.
Amendment No. 3 to the District revises the Project Plan to provide $8,000,000 in funding for the Milwaukee Streetcar’s 4th Street extension and preliminary engineering and planning for an extension to Bronzeville.
Body
Whereas, On September 22, 2000, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 000428, which approved a Project Plan and created Tax Incremental District No. 41 (the “District”); and
Whereas, On February 7, 2006, the Common Council adopted File No. 051108, which approved Amendment No. 1 to the District; and
Whereas, On July 2, 2013, the Common Council adopted File No. 130246, which approved Amendment No. 2 to the District; and
Whereas, Pursuant to Section 66.1105(4)(h)(l), Wisconsin Statutes, on June 16, 2016, the Redevelopment Authority of the City of Milwaukee (“Authority”) conducted a public hearing on Amendment No. 3 to the Project Plan for the District (“Amendment”), approved the Amendment by resolution and submitted the 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 Coun...
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