Number
150914
Version
ORIGINAL
Reference
150184
Sponsor
ALD. BAUMAN
Title
Resolution approving Amendment No. 1 to the Project Plan and Term Sheets authorizing expenditures for Tax Incremental District No. 83 (Broadway and Michigan), in the 4th Aldermanic District.
Analysis
Tax Incremental District No. 83 was created in 2015 for the purpose of providing a $900,000 grant to assist with the redevelopment of the Mackie Building.
Amendment No. 1 to the TID revises the Project Plan to provide $1,935,000 in funding for streetscaping, traffic signals and lighting and $25,000 for administration expenses.
Body
Whereas, On June 23, 2015, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 150184, which approved a Project Plan and created Tax Incremental District No. 83 (Broadway and Michigan) (the “District”); and
Whereas, Pursuant to Section 66.1105(4)(h)(l), Wisconsin Statutes, on October 15, 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, Section 66.1105(4)(g) and (h)(1), Wisconsin Statutes, provides that an amendment to a Project Plan shall be approved by the Common Council with the adoption of a resolution, which contains findings that such amendment is feasible and in conformity with the Master Plan of the City of Milwaukee (“City”); now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that it finds and determines as follows:
1. The Amendment retains the existing boundaries of the District and does not alter the number of properties within the District. Therefore, the findings made in File No. 150184, pursuant to Section 66.1105(4)(gm)l and 4, Wisconsin Statutes, are unchanged.
2. The Amendment revises t...
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