City of Milwaukee - File #: 150180

• File #: 150180
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 5/12/2015
• In control: COMMON COUNCIL
• Final action: 6/2/2015
• Title: Substitute resolution approving Amendment No. 1 to the Project Plan and a Term Sheet authorizing expenditures for Tax Incremental District No. 78 (The Northwestern Mutual Life Insurance Company), in the 4th Aldermanic District.
• Sponsors: ALD. BAUMAN
• Indexes: TAX INCREMENTAL DISTRICTS

Date	Ver.	Action By	Action	Result	Tally
6/11/2015	1	MAYOR	SIGNED
6/2/2015	1	COMMON COUNCIL	ADOPTED	Pass	12:0
5/28/2015	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individual appearing: Rocky Marcoux, Department of City Development Commissioner	Pass	5:0
5/21/2015	1	CITY CLERK	DRAFT SUBMITTED
5/21/2015	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
5/21/2015	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
5/12/2015	0	COMMON COUNCIL	ASSIGNED TO

Number
150180
Version
SUBSTITUTE 1
Reference
121429
Sponsor
ALD. BAUMAN
Title
Substitute resolution approving Amendment No. 1 to the Project Plan and a Term Sheet authorizing expenditures for Tax Incremental District No. 78 (The Northwestern Mutual Life Insurance Company), in the 4th Aldermanic District.
Analysis
Tax Incremental District No. 78 was created in 2013 for the purpose of providing funding for The Northwestern Mutual headquarters office project and the Lakefront Gateway Project.

Amendment No. 1 to the TID revises the Project Plan to allocate $250,000 for a cash grant to Johnson Controls, Inc. to conduct site due diligence and expands the existing boundary for the district to match the current property lines of The Northwestern Mutual office project.
Body
Whereas, On April 30, 2013, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 121429, which approved a Project Plan and created Tax Incremental District No. 78 (The Northwestern Mutual Life Insurance Company) (the “District”); and

Whereas, Pursuant to Section 66.1105(4)(h)(l), Wisconsin Statutes, on May 21, 2015, the Redevelopment Authority of the City of Milwaukee (“Authority”) conducted a public hearing on Amendment No. 1 to the Project Plan for the District (“Amendment”), approved the Amendment by resolution and submitted the Amendment, a copy of which is attached to this Common Council File, to the Common Council for its approval; and

Whereas, Under the provisions of Section 66.1105(4)(gm)4.a., Wisconsin Statutes, not less than 50 percent, by area, of the real property within a proposed district must qualify as either a “blighted area” within the meaning of Section 66.1105(2)(a), Wisconsin Statutes; an area “in need of rehabilitation or conservation work” as defined in Section 66.1337(2m)(a), Wisconsin Statutes; must be suitable for “industrial sites” within the meaning of Section 66.1101, Wisconsin Statutes, and be zoned for industrial use; or must be “s...