Number
260653
Version
SUBSTITUTE 1
Sponsor
THE CHAIR
Title
Substitute resolution relating to increasing the 2026 Tax Incremental Borrowing Authority.
Body
Whereas, The 2026 Tax Incremental Borrowing Account, No. 0336-9990-R999-TD000260000 was funded in the amount of $25,000,000 in the 2026 adopted budget; and
Whereas, This account provides funding for tax incremental financed projects located within 1/2 mile of Tax Incremental Districts. Common projects include street paving, pedestrian & traffic safety, street lighting, and public space upgrades.
Whereas, Tax incremental borrowing is self-supporting as the improvements made in these districts are paid through additional property tax revenue generated from the incremental values of these districts.
Whereas, the city’s needs in 2026 will require up to $40,000,000 in additional borrowing authority for public infrastructure projects that were not contemplated during the development of the 2026 budget; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that up to $40,000,000 in additional expenditure authority is appropriated to the Capital Improvements Tax Incremental Borrowing Authority Account No. 0336-9990-R999-TD000260000 and, be it
Further Resolved, That the City Comptroller be, and hereby is, authorized and directed to establish the necessary accounts and accounting procedures to carry out the intent of this resolution.
Requestor
DOA-Budget and Management Division
Drafter
Mason Lavey
September 16, 2026
I:\FINANCE\Resolutions\2026 Resolutions\2026 Tax Incremental Borrowing Authority - Resolution (260653)