City of Milwaukee - File #: 130053

• File #: 130053
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 4/30/2013
• In control: COMMON COUNCIL
• Final action: 5/21/2013
• Title: Substitute resolution approving a Project Plan and a Development Agreement, authorizing expenditures and creating Tax Incremental District No. 79 (North Water Street Riverwalk), in the 3rd Aldermanic District.
• Sponsors: THE CHAIR
• Indexes: TAX INCREMENTAL DISTRICTS

Date	Ver.	Action By	Action	Result	Tally
5/30/2013	1	MAYOR	SIGNED
5/21/2013	0	COMMON COUNCIL	AMENDED; Minutes note: Ald. Bohl moved to amend this resolution by amending Part 4 of the 5th “Further Resolved” clause as follows: 4. A variance is authorized from the procedures of Common Council File No. 68-461-x, being the Guidelines for the Control of Capital Expenditures, and directs the City Comptroller to: Establish the appropriate accounts within the TID No. 79 Project Account, No. TD07980000, to [[appropriate tax incremental collections equal to the total required to pay $1,600,000 for this District, in such amounts as set forth in the Plan as shall be necessary]] >>transfer the sum of $1,750,000, plus 10% for capitalized interest, from the Parent TID Account to the Project Account for the purpose of providing the necessary funding<< to implement the Plan.	Pass	12:0
5/21/2013	1	COMMON COUNCIL	ADOPTED	Pass	12:0
5/14/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Alyssa Remington, Department of City Development Ald. Nik Kovac, 3rd Aldermanic District Ryan Schultz, HSI Properties	Pass	5:0
5/8/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
5/8/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
4/30/2013	0	COMMON COUNCIL	ASSIGNED TO	Fail

Number
130053
Version
SUBSTITUTE 1
Reference

Sponsor
THE CHAIR
Title
Substitute resolution approving a Project Plan and a Development Agreement, authorizing expenditures and creating Tax Incremental District No. 79 (North Water Street Riverwalk), in the 3rd Aldermanic District.
Analysis
Tax Incremental District No. 79 consists of two properties totaling approximately 6.16 acres at 1781 and 1887 North Water Street. The 1781 site is the former Gallun Tannery and the 1887 site is the location of a light manufacturing facility.

Adoption of this resolution will fulfill statutory requirements for approving a Project Plan and creating a Tax Incremental District to assist in the financing of riverwalks and related public improvements within the boundaries of the District. This resolution authorizes the Commissioner of City Development, other public officials and the Redevelopment Authority to take such actions, as are necessary, to accomplish the objectives of the Project Plan and also authorizes the City Comptroller to create the necessary and appropriate accounts and subaccounts for Project Plan implementation.
Body
Whereas, Chapter 105 of the Laws of 1975 of the State of Wisconsin, with amendments from other chapters of said Laws, created Section 66.1105, Wisconsin Statutes, titled “Tax Increment Law;” and

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

Whereas, Pursuant to Section 66.1105(4)(a) through (gm), Wisconsin Statutes, on April 18, 2013, the Authority conducted a public hearing on the Project Plan, designated the boundaries of the North Water Street Riverwalk District and recommended that the District be created and submitted such recommendation to the Common...