Number
161500
Version
ORIGINAL
Reference
000428, 051108, 130246, 160299
Sponsor
ALD. BAUMAN
Title
Resolution approving Amendment No. 4 to the Project Plan for Tax Incremental District No. 41 (Time Warner Riverwalk) and authorizing expenditures, in the 3rd, 4th and 6th Aldermanic Districts.
Analysis
The Common Council created Tax Incremental District No. 41 in 2000 by adoption of File No. 000428 to, among other things, provide funding for Riverwalk and other improvements related to the conversion of a former WE Energies power plant into offices for Time Warner Inc. TID No. 41 was amended in 2006 by adoption of File No. 051108 to construct a parking ramp and Riverwalk associated with relocation of Manpower Inc. to downtown Milwaukee. TID No. 41 was amended again in 2013 by adoption of File No. 130246 to fund additional public improvements to North 2nd Street and West Galena Street. TID No. 41 was amended again in 2016 by adoption of File No. 160299 to provide funding for the 4th Street Extension of the Milwaukee Streetcar and preliminary engineering and planning for an extension to Bronzeville.
Amendment No. 4 to the Project Plan for TID No. 41 will provide funding for the Schlitz Park Riverwalk Extension in the amount of $475,000 and $400,000 in funding for pedestrian crossings at eight mid-block Riverwalk street crossings, both within the boundary of TID No. 41 and within one-half mile of the boundary of TID No. 41.
Body
Whereas, Chapter 105 of the Laws of 1975 of the State of Wisconsin, with amendments from other chapters of said Laws, created Section 66.1105, Wisconsin Statutes, titled “Tax Increment Law;” and
Whereas, Boundaries and a Project Plan for Tax Incremental District (“TID” or “District”) No. 41 were approved by the Redevelopment Authority of the City of Milwaukee (“Authority”) and the Common Council of the City of Milwaukee (“Common Council”) in 2000; and
Whereas, Amendment No. 1 to the Project Plan for TID No. 41 was approved by the Au...
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