NUMB:
971154
VERS:
SUBSTITUTE 1
REF:
XXBY:
ALD. HENNINGSEN
TITL:
Substitute resolution approving a Project Plan and creating Tax Incremental District Number Thirty-Five (North 27th Street and West Wisconsin Avenue) in the 4th Aldermanic District. (Department of City Development)
ANLS:
- Analysis -
Adoption of this substitute resolution will fulfill statutory requirements for approving a Project Plan and creating a Tax Incremental District to fund the redevelopment of the area bounded by North 26th Street, West Michigan Street, North 28th Street and West Wisconsin Avenue. This resolution authorizes the Commissioner of the Department 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 Project Plan and also authorizes the City Comptroller to create the necessary and appropriate subaccounts for Plan implementation.
BODY:
Whereas, Chapter 105 of the Laws of 1975, of the State of Wisconsin with amendments from other chapters of said Laws, created Section 66.46, Wisconsin Statutes, titled "Tax Increment Law"; and
Whereas, Subsection ("ss") 66.46(4) of said Law sets forth certain criteria which must be followed by the Common Council of the City of Milwaukee ("Common Council") and the City Plan Commission to approve a Project Plan ("Plan") for a Tax Incremental District; and
Whereas, Tax Incremental District Number Thirty-Four, City of Milwaukee (Third Ward Riverwalk), was the last previously approved District created by the Common Council; and
Whereas, Pursuant to ss 66.46(4)(a) through (gm), Wisconsin Statutes, requiring Plan preparation, notice, public hearing and Plan adoption, the City Plan Commission designated the boundaries of a Tax Incremental District (the "District") in that section of the city bounded generally by North 26th Street, West Michigan Street, North 28th Street and West Wisconsin Avenue, and...
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