Number
230233
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution approving Amendment No. 5 to the Project Plan for Tax Incremental Financing District No. 48 (Park East), in the 3rd, 4th and 6th Aldermanic Districts.
Analysis
Body
Whereas, On March 5, 2002, the Common Council of the City of Milwaukee adopted File No. 011182, which approved a Project Plan and created Tax Incremental District No. 48 (Park East) (the “TID 48”) (RACM Resolution No. 9347) to fund public infrastructure to encourage redevelopment of the former Park East Freeway Corridor; and
Whereas, On May 3, 2005, the Common Council adopted File No. 041514 (RACM Resolution No. 9708), which approved Amendment No. 1 to the TID 48 Project Plan; and
Whereas, On July 26, 2011, the Common Council adopted File No. 101297 (RACM Resolution No. 10295), which approved Amendment No. 2 to the TID 48 Project Plan; and
Whereas, On March 1, 2016, the Common Council adopted File No. 151547 (RACM Resolution No. 10604), which approved Amendment No. 3 to the TID 48 Project Plan; and
Whereas, On July 26, 2016, the Common Council adopted File No. 160418 (RACM Resolution No. 10621), which approved Amendment No. 4 to the TID 48 Project Plan; and
Whereas, The Common Council of the City of Milwaukee, pursuant to Sec. 66.1105(3)(f), Wisconsin Statutes, has designated the Redevelopment Authority of the City of Milwaukee (the “Redevelopment Authority”) as the agency responsible for preparation and review of proposed tax incremental districts; and
Whereas, The Amendment No. 5 to the Project Plan for the District has been prepared and duly noticed; and
Whereas, On March 16, 2023, the Redevelopment Authority conducted the required public hearing on the proposed Amendment No. 5 to Project Plan for the District; now, therefore, be it
Resolved, By the Redevelopment Authority, by its Board, that Amendment No. 5 to the TID 48 Project Plan, as submitted to the RACM file, is approved and adopted; and, b...
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