City of Milwaukee - File #: 000165

• File #: 000165
• Version: 2
• Type: Resolution
• Status: Passed
• File created: 5/19/2000
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 9/6/2000
• Title: Substitute resolution approving a Project Plan and creating Tax Incremental District Number Thirty-Nine (City Center Hilton/Midwest Express Center Parking and Streetscape Project) and approving the terms of a Development Agreement to implement the Project Plan, in the 4th Aldermanic District.
• Sponsors: THE CHAIR
• Indexes: PLANNING, TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING

Date	Ver.	Action By	Action	Result	Tally
2/11/2014	0	COMMON COUNCIL	PUBLISHED; Minutes note: This file is being published June 5, 2000 and June 12, 2000 for a CPC Mtg. on 6/19/2000 at 2:15 p.m.
12/17/2013	0	COMMON COUNCIL	REFERRED TO
12/17/2013	0	COMMON COUNCIL	REFERRED TO
9/11/2000	2	MAYOR	SIGNED
9/6/2000	2	COMMON COUNCIL	ADOPTED	Pass	17:0
9/6/2000	2	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	4:0
8/31/2000	2	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
8/22/2000	2	CITY CLERK	DRAFT SUBMITTED
7/18/2000	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HELD TO CALL OF THE CHAIR	Pass	5:0
7/10/2000	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
5/26/2000	1	CITY CLERK	DRAFT SUBMITTED
5/19/2000	0	COMMON COUNCIL	ASSIGNED TO

NUMB:
000165
VERS:
SUBSTITUTE 2
REF:

XXBY:
THE CHAIR
TITL:
Substitute resolution approving a Project Plan and creating Tax Incremental District Number Thirty-Nine (City Center Hilton/Midwest Express Center Parking and Streetscape Project) and approving the terms of a Development Agreement to implement the Project Plan, in the 4th Aldermanic District.
ANLS:
- Analysis -

This substitute resolution approves a tax incremental district Project Plan to provide partial funding for an 850 space parking ramp to be located at North 6th and West Michigan Streets, as well as related streetscape improvements. This substitute resolution also approves the terms of a Development Agreement between the City, the Redevelopment Authority and The Marcus Corporation through which Marcus will advance funding for the project and be repaid by the City, but only to the extent of incremental tax revenue actually generated in the district.
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, Pursuant to Sections 66.46(4)(a) through (gm), Wisconsin Statutes, the City Plan Commission designated the boundaries of a Tax Incremental District (the "District") at North 6th and West Michigan Streets and recommended that the District be created and submitted such recommendation to the Common Council of the City of Milwaukee (the "Common Council") for approval with a proposed Project Plan for Tax Incremental District Number Thirty-Nine, City of Milwaukee (the "Plan"), a copy of which is attached to this Common Council File; and

Whereas, Section 66.46(4)(g), Wisconsin Statutes, provides that a Project Plan for a Tax Incremental District shall be approved by the Common Council prior to or concurrent with the adoption of a resolution by the Common Council which contains findings that such Plan is feasible and in conform...