Number
260298
Version
ORIGINAL
Reference
050948
Sponsor
ALD. PRATT
Title
Resolution approving Amendment No. 1 to the Project Plan and authorizing expenditures for Tax Incremental District No. 62 (DRS Power & Control Technologies), in the 1st Aldermanic District.
Analysis
This Resolution approves Amendment No. 1 to the Project Plan for the Tax Incremental District No. 62 (DRS Power & Control Technologies), to fund public infrastructure improvements located within one half-mile of the District’s boundary, as further described in Amendment 1 to the Project Plan attached to this Common Council file.
Body
Whereas, Pursuant to Section 66.1105, Wis. Stat., entitled the “Tax Increment Law,” and with the approval of the Redevelopment Authority of the City of Milwaukee (“RACM”), the City of Milwaukee (“City”), and the Joint Review Board (“JRB”), Tax Incremental District No. 62 (“TID 62” or the “District”) was created by Council Resolution 050948 and RACM Resolution 9765 and TID 62 remains in existence and has not been statutorily terminated; and
Whereas, The Department of City Development (“DCD”) staff has recommended that TID 62 provide funding for public infrastructure improvements; and
Whereas, Section 66.1105(2)(f)1.n., Wis. Stat., permits amendments to fund project costs located outside, but within one-half mile of the District’s boundary and within the City’s municipal boundaries; and
Whereas, Amendment 1 to the TID 62 Project Plan (“Amendment 2”) will fund $1,000,000 in public infrastructure improvements including but not limited to High Impact Paving projects, street resurfacing and traffic calming installations in and within one-half mile of the District; and
Whereas, On June 18, 2026, per Wis. Stat. 66.1105(4)(h)1., RACM adopted a resolution, following the required notice and public hearing, approving Amendment 1, and directing its submittal to the Common Council of the City of Milwaukee (“Common Council”) for approval and to the JRB for approval a...
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