Number
070843
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. D’AMATO
Title
Substitute resolution creating Business Improvement District No. 41 (Downer Avenue) and approving its First Year Operating Plan.
Analysis
This substitute resolution establishes a Business Improvement District (“BID”) pursuant to Wisconsin Statutes, for the area generally including properties along Downer Avenue between East Park Place and East Weber Place, in the 3rd Aldermanic District. This substitute resolution adopts a first year Operating Plan and budget for the BID, creates a District Board and authorizes special assessments totaling $12,901,000 on taxable properties in the BID.
Body
Whereas, The Downer Avenue 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 Downer Avenue 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 has been reviewed and approved 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. 41 (Downer Avenue) and the associated District Board are hereby created; and, be it
Further Resolved, That the initial Operating Plan for BID No. 41, a copy of which is attached to this Common Council File, is approved; and, be it
Further Resolved, That the City Treasurer, City Comptroller and other affected departments are directed to collect and disburse the BID No. 41 assessments in accordance with the Operating Plan; and, be it
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