IMMEDIATE ADOPTION
Number
251039
Version
SUBSTITUTE
Reference
150383, 200378, 241347
Sponsor
ALD. BAUMAN
Title
Resolution approving Amendment No. 2 to the Project Plan and boundary for Tax Incremental District No. 84 (West McKinley & Juneau), and authorizing additional expenditures, and approving a development agreement and an amendment to an existing development agreement, in the 4th Aldermanic District.
Analysis
This resolution approves Amendment No. 2 to TID No. 84, which removes four parcels from the District, authorizes expenditures for the reconstruction of West Vliet Street and the construction of a public plaza on West Highland Avenue, approves a Development Agreement with Business Improvement District No. 15 to carry out the design and construction of the public plaza on behalf of the City, approves a 5th Amendment to the Bucks Arena Development Agreement and provides funding for TID administration.
Body
Whereas, On September 22, 2015, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 150383, which approved a Project Plan and created Tax Incremental District No. 84 (West McKinley and West Juneau)(the “District”); and
Whereas, on July 28, 2020, the Common Council adopted File No. 200378, which approved a First Amendment to the Project Plan for the District; and
Whereas, Pursuant to Section 66.1105(4)(h)(1), Wisconsin Statutes, on December 19, 2024, the Redevelopment Authority of the City of Milwaukee (“Authority”) conducted a public hearing on Amendment No. 2 to the Project Plan for the District (“Amendment”), approved the Amendment by resolution and submitted the Amendment, a copy of which is attached to the 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 Council with the adoption of a resolution, which contains findings that such amendment is feasible an...
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