Number
241693
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution approving Amendment No. 2 to the Project Plan for Tax Incremental Financing District No. 78 (Northwestern Mutual Life Insurance Company), in the 4th Aldermanic District.
Analysis
Body
Whereas, On April 30, 2013, the Common Council adopted File No. 121429 (RACM Resolution No. 10394), which approved a Project Plan and created Tax Incremental District No. 78 (Northwestern Mutual Life Insurance Company) (the “TID 78”) (the “District”) to assist with construction of Northwestern Mutual’ s new downtown Milwaukee headquarters and the public infrastructure associated with the Lakefront Gateway project; and
Whereas, On June 2, 2015, the Common Council adopted File No. 150180 (RACM Resolution No. 10548), which approved Amendment No. 1 to the TID 78 Project Plan; and
Whereas, On July 6, 2016, the Common Council adopted File No. 160289 (RACM Resolution No. 10626), which approved a funding increase for the District; 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. 2 to the Project Plan for the District has been prepared and duly noticed; and
Whereas, On February 20, 2025 the Redevelopment Authority conducted the required public hearing on the proposed Amendment No. 2 to Project Plan for the District; now, therefore, be it
Resolved, By the Redevelopment Authority, by its Board, that Amendment No. 2 to the TID 78 Project Plan, as submitted to the RACM file, is approved and adopted; and, be it
Further Resolved, That the RACM Executive Director is directed to transmit copies of this resolution and said Amendment No. 2 to the Common Council for its approval; and, be it
Further Resolved, That, after ap...
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