Number
040563
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution approving Amendment No. 1 to the Redevelopment Plan for the Park East Redevelopment Project in the 3rd, 4th and 6th Aldermanic Districts.
Analysis
Adoption of this resolution by at least two-thirds vote of the Common Council will amend the Park East Redevelopment Plan to change the land use provisions to prohibit future tax-exempt uses in the Project Area.
Body
Whereas, On December 15, 2003, the Redevelopment Authority of the City of Milwaukee (“Authority”) and on June 15, 2004, the Common Council of the City of Milwaukee (“Common Council”) adopted a Redevelopment Plan (“Plan”) for the Park East Redevelopment Project Area; and
Whereas, The Plan was recorded on August 11, 2004, in the Office of the Register of Deeds of Milwaukee County, Wisconsin, as Document No. 08841218; and
Whereas, The Authority desires to amend the Land Use provisions of the Plan to prohibit future tax-exempt uses to enhance the economic viability of Tax Incremental District No. 48 that was created to finance implementation of the Plan; and
Whereas, Amendment No. 1 to the Plan (“Amendment No. 1”) also provides that any new tax-exempt use in the project boundary must be approved by both the Authority and the Common Council before a building and/or occupancy permit will be issued by the City of Milwaukee; and
Whereas, The Authority approved Amendment No. 1 after a public hearing on May 20, 2004 and is hereby transmitting Amendment No. 1 to the Common Council for its approval; and
Whereas, The City Plan Commission of the City of Milwaukee reviewed Amendment No. 1 and determined that it conforms to the general plan of the City of Milwaukee and to local objectives as to appropriate land uses, improved traffic, public transportation, public utilities, recreational and community facilities, and other public improvements in the Project Area; now, therefore, be it
Resolved, By the Com...
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