City of Milwaukee - File #: 130460

• File #: 130460
• Version: 0
• Type: Ordinance
• Status: Passed
• File created: 7/23/2013
• In control: COMMON COUNCIL
• Final action: 9/24/2013
• Effective date: 10/11/2013
• Title: An ordinance relating to extending the lives of tax incremental districts to benefit affordable housing in the city and to improve the city’s housing stock.
• Sponsors: ALD. MURPHY, ALD. HINES JR., ALD. BAUMAN, ALD. HAMILTON, ALD. WADE, ALD. KOVAC, ALD. PEREZ, ALD. BOHL
• Indexes: HOUSING, TAX INCREMENTAL DISTRICTS

Date	Ver.	Action By	Action	Result	Tally
10/10/2013	0	CITY CLERK	PUBLISHED
9/27/2013	0	MAYOR	SIGNED
9/24/2013	0	COMMON COUNCIL	PASSED	Pass	15:0
9/18/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR PASSAGE; Minutes note: Individuals appearing: Jeff Osterman, Legislative Reference Bureau Jim Scherer, Department of City Development	Pass	5:0
9/13/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/13/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/11/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/11/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/9/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
7/23/2013	0	COMMON COUNCIL	ASSIGNED TO

Number
130460
Version
ORIGINAL
Reference

Sponsor
ALD. MURPHY, HINES, BAUMAN, HAMILTON, WADE, KOVAC, PEREZ and BOHL
Title
An ordinance relating to extending the lives of tax incremental districts to benefit affordable housing in the city and to improve the city’s housing stock.
Sections
304-95-3-d am
304-96 cr
Analysis
This ordinance provides that, after the date on which a tax incremental district created by the city pays off the aggregate of all of its project costs, including any project costs relating to an amendment to the district’s project plan to fund street-paving costs, the life of the district shall be extended for one year if:

a. The common council adopts a resolution extending the life of the district for one year. The resolution shall specify how the city intends to use the additional tax incremental revenues to improve its housing stock. The commissioner of city development shall prepare this resolution.

b. The city clerk forwards a copy of the common council resolution to the Wisconsin department of revenue, notifying it that it is required to continue to authorize the allocation of tax increments to the district under s. 66.1105(6)(a), Wis. Stats.

If the city receives tax increments from this type of extension to the life of a tax incremental district, it shall use at least 75 percent of the increments received for the benefit of affordable housing in the city. The remaining portion of the increments shall be used by the city to improve its housing stock.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:

Part 1. Section 304-95-3-d of the code is amended to read:

304-95. Tax Incremental Districts - Inclusion of Street-Paving Costs in Project Plans.

3. GUIDELINES FOR AMENDING PROJECT PLANS.

d. Provide that, upon completion of the improvements, the district shall be closed out without the need for additional action by the city >>, unless the life of the district is further extended under ...