City of Milwaukee - File #: 150654

• File #: 150654
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 9/1/2015
• In control: COMMON COUNCIL
• Final action: 9/22/2015
• Title: Resolution approving a Project Plan, authorizing expenditures and creating Tax Incremental District No. 85 (6th and National), in the 12th Aldermanic District.
• Sponsors: ALD. PEREZ
• Indexes: TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING

Date	Ver.	Action By	Action	Result	Tally
9/22/2015	0	MAYOR	SIGNED
9/22/2015	0	COMMON COUNCIL	ADOPTED	Pass	15:0
9/15/2015	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Martin Matson, City Comptroller Dan Casanova, Department of City Development	Pass	4:0
9/9/2015	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/1/2015	0	COMMON COUNCIL	ASSIGNED TO

Number
150654
Version
ORIGINAL
Reference

Sponsor
ALD. PEREZ
Title
Resolution approving a Project Plan, authorizing expenditures and creating Tax Incremental District No. 85 (6th and National), in the 12th Aldermanic District.
Analysis
Tax Incremental District No. 85 consists of 24.01 acres surrounding the intersection of South 6th Street and West National Avenue. The District will assist in funding the reconstruction of South 5th Street, as well as bike amenities for the area, totaling $1,685,000.
Body
Whereas, Chapter 105 of the Laws of 1975 of the State of Wisconsin, with amendments from other chapters of said Laws, created Section 66.1105, Wisconsin Statutes, titled “Tax Increment Law;” and

Whereas, Section 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 Redevelopment Authority of the City of Milwaukee (“Authority”) must follow to create a Tax Incremental District (“TID” or “District”) and approve a project plan for a TID; and

Whereas, Pursuant to Section 66.1105(4)(a) through (gm), Wisconsin Statutes, on August 20, 2015 the Authority conducted a public hearing on the proposed Project Plan for the District (“Plan”), designated the boundaries of the District and recommended that the District be created and submitted such recommendation to the Common Council for approval with the Plan, a copy of which is attached to this Common Council File; and

Whereas, Under the provisions of Section 66.1105(4)(gm)4.a., Wisconsin Statutes, not less than 50 percent, by area, of the real property within a proposed TID must qualify as either a “blighted area” within the meaning of Section 66.1105(2)(a), Wisconsin Statutes; an area “in need of rehabilitation or conservation work” as defined in Section 66.1337(2m)(a), Wisconsin Statutes; must be suitable for “industrial sites” within the meaning of Section 66.1101, Wisconsin Statutes, and be zoned for industrial use; or must b...