Number
040878
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. MCGEE
Title
Substitute resolution creating Business Improvement District No. 36 (Riverworks II) and approving its first year Operating Plan.
Analysis
This substitute resolution establishes a Business Improvement District, pursuant to Wisconsin Statutes, for the area generally bounded by North 1st Street to the west, North Pierce Street to the east, East Concordia Avenue to the south and east Keefe Street to the north, in the 3rd and 6th Aldermanic Districts. This substitute resolution adopts a first year Operating Plan and budget for the BID, creates a District Board and authorizes special assessments totaling $33,316 on taxable properties in the BID.
Body
Whereas, The Riverworks II business district is a vital and integral part of the City of Milwaukee (“City”); and
Whereas, A Business Improvement District (“BID”) as authorized by Section 66.1109, Wisconsin Statutes, provides a financing method to allow the Riverworks II business district to become self-sustaining; and
Whereas, Several property owners in the proposed BID have submitted petitions requesting the City to establish a BID in the area; and
Whereas, An initial Operating Plan has been prepared which describes proposed activities within the District and which act in accordance with applicable Wisconsin Statutes; and
Whereas, Said Operating Plan, a copy of which is attached to this Common Council File, has been reviewed and adopted by the City Plan Commission following a public hearing; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that Business Improvement District No. 36 (Riverworks II) and the associated District Board are created; and, be it
Further Resolved, That the initial Operating Plan for BID No. 36 is adopted; and, be it
Further Resolved, That the City Treasurer, City Comptroller and other affected departments are authorized and directed to collect and disbur...
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