City of Milwaukee - File #: 001778

• File #: 001778
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 4/10/2001
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 6/19/2001
• Title: Substitute resolution approving a Project Plan and creating Tax Incremental District Number Forty-Four (Walnut-Locust Neighborhood Improvement Fund) and approving the terms of a Contribution Agreement to implement the Project Plan in the 7th, 10th, and 17th Aldermanic Districts.
• Sponsors: THE CHAIR
• Indexes: PLANNING, TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING

Date	Ver.	Action By	Action	Result	Tally
6/28/2001	1	MAYOR	SIGNED
6/19/2001	1	COMMON COUNCIL	ADOPTED	Pass	15:0
6/12/2001	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	5:0
6/4/2001	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
4/17/2001		ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	REFERRED TO
4/10/2001	0	COMMON COUNCIL	ASSIGNED TO

Number
001778
Version
SUBSTITUTE 1
Reference

Sponsor
THE CHAIR
Title
Substitute resolution approving a Project Plan and creating Tax Incremental District Number Forty-Four (Walnut-Locust Neighborhood Improvement Fund) and approving the terms of a Contribution Agreement to implement the Project Plan in the 7th, 10th, and 17th Aldermanic Districts.
Analysis
This substitute resolution creates a Tax Incremental District and approves a Project Plan for the redevelopment of the residential portions of the area generally bounded by West Locust Street, North 12th Street, West Walnut Street, and North 20th Street. This resolution also authorizes entering into a Contribution Agreement for Project Plan implementation. The Project Plan provides grants and loans to property owners and developers for in-fill housing construction and for home rehabilitation.
Body
Whereas, Section 66.1105, Wisconsin Statutes, the “Tax Increment Law,” provides a means for cities to finance the improvement of areas in need of redevelopment; and

Whereas, Subsection (“ss”) 66.1105(4) of the Tax Increment Law sets forth certain criteria that the Common Council of the City of Milwaukee (“Common Council”) and the City Plan Commission must follow to create a Tax Incremental District (“District” or “TID”) and approve a Project Plan (“Plan”) for the District; and

Whereas, Pursuant to Wisconsin Statutes, the City Plan Commission designated the area generally bounded by West Locust Street, North 12th Street, West Walnut Street, and North 20th Street, recommended that the District be created, and submitted the recommendation to the Common Council for approval along with a proposed Plan for TID No. 44, City of Milwaukee, a copy of which is attached to this Common Council File; and

Whereas, Under the provisions of ss 66.1105(4)(gm)4.a., Wisconsin Statutes, not less than 50 percent, by area, of the real property within a proposed District must qualify as either a “blighted area...