Number
010319
Version
SUBSTITUTE 1
Reference
000806
Sponsor
THE CHAIR
Title
Substitute resolution approving Amendment No. 1 to the Project Plan for Tax Incremental District No. 42 (Capitol Court) in the 2nd Aldermanic District.
Analysis
Adoption of this substitute resolution will fulfill statutory requirements for amending the Project Plan for TID No. 42. The amendment revises the Project Plan to provide assistance for the redevelopment of the former Capitol Court shopping center. This substitute resolution authorizes the Commissioner of City Development, other public officials, and the Redevelopment Authority of the City of Milwaukee to take such actions as are necessary to accomplish the objectives of the amended Project Plan and also authorizes the City Comptroller to create the necessary and appropriate subaccounts for Plan implementation.
Body
Whereas, Section 66.1105(4)(h)l., Wisconsin Statutes, permits the Redevelopment Authority of the City of Milwaukee (“Authority”), subject to the approval of the Common Council, to amend the Project Plan for a Tax Incremental District; and
Whereas, The Common Council of the City of Milwaukee on November 28, 2000 passed File No. 000806 approving a Project Plan and creating Tax Incremental District No. 42 (Capitol Court); and
Whereas, Pursuant to Section 66.1105(4)(h)l., Wisconsin Statutes, and following the required notice and public hearing, the Authority adopted Amendment No. 1 to the Project Plan for Tax Incremental District No. 42 (“Amendment”), a copy of which is attached to this Common Council File; and
Whereas, The Authority has submitted said Amendment 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 for a Tax Incremental District shall be approved by the Common Council prior to or concurrent with the adoption of a resolution by the Common Council which contains findings that s...
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