City of Milwaukee - File #: 010322

• File #: 010322
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 6/19/2001
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 9/5/2001
• Title: Substitute resolution approving a Project Plan and creating Tax Incremental District Number Forty-Six (New Arcade Project), in the 4th Aldermanic District.
• Sponsors: CHAIR
• Indexes: PLANNING, TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING

Date	Ver.	Action By	Action	Result	Tally
9/14/2001	1	MAYOR	SIGNED
9/5/2001	1	COMMON COUNCIL	ADOPTED	Pass	14:0
9/4/2001	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Speakers: John Siefert, Howard Biel, Jo wehr	Pass	5:0
9/4/2001	1	CITY CLERK	DRAFT SUBMITTED
8/23/2001	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
6/20/2001		ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	REFERRED TO
6/19/2001	0	COMMON COUNCIL	ASSIGNED TO

Number
010322
Version
SUBSTITUTE 1
Reference

Sponsor
THE CHAIR
Title
Substitute resolution approving a Project Plan and creating Tax Incremental District Number Forty-Six (New Arcade Project), in the 4th Aldermanic District.
Analysis
This substitute resolution creates a Tax Incremental District and approves a Project Plan for the New Arcade Project, generally bounded by West Wisconsin Avenue, North Plankinton Avenue, West Michigan Street, and North 4th Street. The Project Plan provides a grant to the developer for costs related to the renovation of the retail arcades in the Grand Avenue Mall.
Body
Whereas, Section 66.1105, Wisconsin Statutes, the “Tax Increment Law,” provides a means for cities to finance the improvement of areas in need of redevelopment; and

Whereas, Subsection (“ss”) 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 (“District” or “TID”) and approve a Project Plan (“Plan”) for the District; and

Whereas, Pursuant to Wisconsin Statutes, the Authority conducted a public hearing on the Plan creating TID No. 46 and, therefore, recommended that the District be created and is hereby submitting such recommendation to the Common Council for approval with a proposed Plan for the District, a copy of which is attached to this Common Council File; and

Whereas, Under the provisions of ss 66.1105(4)(gm)4.a., Wisconsin Statutes, not less than 50 percent, by area, of the real property within a proposed District must qualify as either a “blighted area” within the meaning of ss 66.1105(2)(a), Wisconsin Statutes; an area “in need of rehabilitation or conservation work” within the meaning of ss 66.1337(3), Wisconsin Statutes; or must be suitable for “industrial sites” within the meaning of Section 66.1101, Wisconsin Statutes, and be ...