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File #: 131751    Version:
Type: Resolution Status: Passed
File created: 4/2/2014 In control: COMMON COUNCIL
On agenda: Final action: 5/13/2014
Effective date:    
Title: Substitute resolution establishing a framework for using tax increments to benefit affordable housing and improve the housing stock in the City of Milwaukee.
Sponsors: ALD. MURPHY
Indexes: HOUSING, TAX INCREMENTAL FINANCING
Attachments: 1. Framework and Timeline as of 4-30-14, 2. Framework and Timeline as of 4-10-14, 3. Hearing Notice List 4-15-14, 4. Hearing Notice List 5-6-14
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
5/22/20142 MAYOR SIGNED   Action details Meeting details Not available
5/13/20142 COMMON COUNCIL ADOPTEDPass15:0 Action details Meeting details Video Video
5/6/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE SUBSTITUTED

Minutes note: Individuals appearing: Maria Prioletta, Department of City Development Aaron Szopinski, Mayor's Office Housing Policy Director Ald. Wade moved substitution of the file with Proposed Substitute A. (Prevailed 5-0)
Pass5:0 Action details Meeting details Video Video
5/6/20142 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTIONPass5:0 Action details Meeting details Not available
4/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/15/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HELD IN COMMITTEE

Minutes note: Individuals appearing: President Michael Murphy, 10th Aldermanic District Maria Prioletta, Department of City Development Aaron Szopinski, Mayor's Office Housing Policy Director Ald. Wade moved to hold the file in committee for one cycle to address concerns of Ald. Bauman and other alderpersons. (Prevailed 5-0)
Pass5:0 Action details Meeting details Video Video
4/11/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/11/20141 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
4/9/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/9/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/9/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/9/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/9/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/2/20140 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
131751
Version
SUBSTITUTE 2
Reference
130460
Sponsor
ALD. MURPHY
Title
Substitute resolution establishing a framework for using tax increments to benefit affordable housing and improve the housing stock in the City of Milwaukee.
Analysis
This substitute resolution provides a framework for the implementation of Section 304-96 of the Milwaukee Code of Ordinances, which provides for the one-year extension of tax incremental districts after all project costs are recovered for the purpose of funding affordable housing activities and improving the housing stock in the City of Milwaukee.
Body
Whereas, Section 66.1105(6)(g), Wisconsin Statutes, provides that after the date on which a tax incremental district (“TID” or “district”), created by the City of Milwaukee (“City”), pays off the aggregate of all of its project costs, including project paving costs relating to any amendment to the project plan under the Milwaukee Code of Ordinances (“MCO”), Section 304-95-2, the life of the district may be extended for one year and the additional tax incremental revenues may be used to benefit affordable housing and to improve the housing stock in the City; and

Whereas, On September 24, 2013, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 130460, which created MCO Section 304-96 that provided for the extension of TIDs for one year to improve the City’s housing stock; and

Whereas, The Joint Review Board has acknowledged the City will be extending the life of TIDs for an additional year beyond the one-year extensions that had previously been approved for paving costs, authorized by MCO Section 304-95-2, to benefit affordable housing and to improve the housing stock in the City; and

Whereas, It is important to establish a planning and budgeting framework for the purpose of utilizing these increments to address the housing needs and priorities of the City; and

Whereas, The Common Council adopts a budget for the City on an annual ba...

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