Number
250734
Version
SUBSTITUTE 1
Reference
030974, 110604, 130072, 141732
Sponsor
ALD. ZAMARRIPA
Title
Substitute resolution approving Amendment No. 4 to the Project Plan for Tax Incremental District No. 53, (Menomonee Valley Shops), and authorizing additional expenditures in the 4th, 8th, 10th and 12th Aldermanic Districts.
Analysis
This substitute resolution approves Amendment No. 4 to TID No. 53, Menomonee Valley Shops), authorizes the expenditure of $750,000 in additional project funding to provide $150,000 for public infrastructure improvements and $600,000 for commercial property renovations.
Body
Whereas, The Common Council of the City of Milwaukee (“Common Council”) adopted File No. 030974, on November 25, 2003 which approved a Project Plan (“Plan”) and created Tax Incremental District No. 53, Menomonee Valley Shops (“TID No. 53” or “District”); and
Whereas, The Common Council adopted File No. 110604, on September 20, 2011 which approved Amendment 1 to the Plan for the District; and
Whereas, The Common Council adopted File No. 130072, on May 21, 2013 which approved Amendment 2 to the Plan for the District; and
Whereas, The Common Council adopted File No. 141732, on March 31, 2015 which approved Amendment 3 to the Plan for the District; and
Whereas, Pursuant to Section 66.1105(4)(h)(1), Wisconsin Statutes, on August 21, 2025, the Redevelopment Authority of the City of Milwaukee (“Authority”) conducted a public hearing on Amendment No. 4 to the Project Plan for the District (“Amendment”), approved such Amendment by resolution and submitted such Amendment, a copy of which is attached to this Common Council File, to the Common Council for its approval; and
Whereas, Section 66.1105(4)(g) and (h)(1), Wisconsin Statutes, provides that an amendment to a Project Plan shall be approved by the Common Council with the adoption of a resolution, which contains findings that such amendment is feasible and in conformity with the Master Plan of the C...
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