City of Milwaukee - File #: 011302

• File #: 011302
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 1/22/2002
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 3/5/2002
• Title: Substitute resolution approving a Project Plan and creating Tax Incremental District No. 47 (875 East Wisconsin), in the 4th Aldermanic District.
• Sponsors: ALD. HENNINGSEN
• Indexes: PLANNING, TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING

Date	Ver.	Action By	Action	Result	Tally
3/6/2002	1	MAYOR	SIGNED
3/5/2002	1	COMMON COUNCIL	ADOPTED	Pass	14:0
3/1/2002	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	4:0
2/28/2002	1	CITY CLERK	DRAFT SUBMITTED
2/26/2002	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HELD TO CALL OF THE CHAIR; Minutes note: Hold until 3/1/02.	Pass	4:0
2/18/2002	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
1/25/2002		ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	REFERRED TO
1/22/2002	0	COMMON COUNCIL	ASSIGNED TO

Number
011302
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. HENNINGSEN
Title
Substitute resolution approving a Project Plan and creating Tax Incremental District No. 47 (875 East Wisconsin), in the 4th Aldermanic District.
Analysis
This substitute resolution creates a Tax Incremental District and approves a Project Plan for 875 East Wisconsin, generally bounded by East Wisconsin Avenue, North Cass Street, and East Michigan Street. The Project Plan provides for the construction of a new eight-story office building containing approximately 213,000 square feet of space and a four-level, 580 stall parking deck and the integration of these improvements through the development of a plaza adjoining O'Donnell Park.
Body
Whereas, Section 66.1105, Wisconsin Statutes, the “Tax Increment Law,” provides a means for cities to finance the improvement of areas in need of redevelopment; and

Whereas, Subsection (“ss”) 66.1105(4) of the Tax Increment Law sets forth certain criteria that the Common Council of the City of Milwaukee (“Common Council”) and the Redevelopment Authority of the City of Milwaukee (“Authority”) must follow to create a Tax Incremental District (“District” or “TID”) and approve a Project Plan (“Plan”) for the District; and

Whereas, Pursuant to Wisconsin Statutes, the Authority conducted a public hearing on the Plan creating TID No. 47 and, therefore, recommended that the District be created and is hereby submitting such recommendation to the Common Council for approval with a proposed Plan for the District, a copy of which is attached to this Common Council File; and

Whereas, Under the provisions of ss 66.1105(4)(gm)4.a., Wisconsin Statutes, not less than 50 percent, by area, of the real property within a proposed District must qualify as either a “blighted area” within the meaning of ss 66.1105(2)(a), Wisconsin Statutes; an area “in need of rehabilitation or conservation work” within the meaning of ss 66.1337(3), Wisconsin Stat...