Number
030809
Version
ORIGINAL
Reference
Sponsor
ALD. PRATT, GORDON, HINES, JOHNSON-ODOM, SANCHEZ, DAVIS, BOHL, WADE, AND HENNINGSEN
Title
Resolution relating to the creation of a tax incremental district to assist Urban Developers in the development of a mixed-use structure on land located southwest of North 6th Street and West State Street.
Analysis
This resolution expresses the Common Council's support for the creation of a tax incremental district that includes the block bounded by West State Street, the West Kilbourn Avenue on-ramp to Interstate 43, North 6th Street and North James Lovell Street to assist Urban Developers in its development of a $42 million mixed-use project on the site. This project will include 8 floors of parking and 6 floors of occupied space, to be principally used by Milwaukee Area Technical College.
This resolution also directs the Department of City Development, in consultation with the Milwaukee Economic Development Corporation, to undertake all actions necessary to evaluate the feasibility and implement the creation of the tax incremental district contemplated by this resolution. The Department of City Development shall provide a report on the status of this project at the next regularly scheduled meeting of the Zoning, Neighborhoods and Development Committee following adoption of this resolution. Within 90 days of the date of adoption of this resolution, the Department of City Development shall forward to the Common Council the project plan for the proposed tax incremental district, the term sheet for the cooperation, contribution and redevelopment agreement to implement the project plan, and any other related documents necessary to create the district, including but not limited to the Common Council resolution approving the project plan, creating the district and approving the term sheet.
Body
Whereas, The block bounded by West State Street, the West Kilbourn Avenue on-ramp to Interstate 43, North...
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