City of Milwaukee - File #: 160418

• File #: 160418
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 7/6/2016
• In control: COMMON COUNCIL
• Final action: 7/26/2016
• Title: Resolution approving Amendment No. 4 to the Project Plan for Tax Incremental District No. 48 (Park East) and authorizing additional funding and expenditures, in the 3rd, 4th and 6th Aldermanic Districts.
• Sponsors: ALD. KOVAC
• Indexes: TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING

Date	Ver.	Action By	Action	Result	Tally
8/3/2016	0	MAYOR	SIGNED
7/26/2016	0	COMMON COUNCIL	ADOPTED	Pass	15:0
7/19/2016	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individual appearing: Alyssa Remington, Department of City Development	Pass	5:0
7/14/2016	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
7/6/2016	0	COMMON COUNCIL	ASSIGNED TO

Number
160418
Version
ORIGINAL
Reference
011182, 041514, 101297, 151547
Sponsor
ALD. KOVAC
Title
Resolution approving Amendment No. 4 to the Project Plan for Tax Incremental District No. 48 (Park East) and authorizing additional funding and expenditures, in the 3rd, 4th and 6th Aldermanic Districts.
Analysis
The Common Council created Tax Incremental District No. 48 in 2002 by adoption of File No. 011182 to, among other things, fund the redevelopment of 64 acres of vacant land made available by the removal of the former Park East Freeway spur. TID No. 48 was amended in 2005 by adoption of File No. 041514 to amend the boundary of the district, and it was amended again in 2011 by adoption of File No. 101297 to fund public infrastructure in the former freeway corridor to promote the redevelopment of the vacant parcels, including providing funding for The North End redevelopment project. TID No. 48 was amended again in 2016 by adoption of File No. 151547 to provide project funding for workforce training and capacity-building programs associated with the new arena construction projects.

Amendment No. 4 to the Project Plan for TID No. 48 will increase funding for the public infrastructure improvements associated with The North End project by $435,000 and provide $1,598,000 for riverwalk, dockwall and public access connections.
Body
Whereas, Chapter 105 of the Laws of 1975 of the State of Wisconsin, with amendments from other chapters of said Laws, created Section 66.1105, Wisconsin Statutes, titled “Tax Increment Law;” and

Whereas, Boundaries and a Project Plan for Tax Incremental District (“TID” or “District”) No. 48 were approved by the Redevelopment Authority of the City of Milwaukee (“Authority”) and the Common Council of the City of Milwaukee (“Common Council”) on March 5, 2002 by adoption of File No. 011182; and

Whereas, On May 3, 2005, the Common Council adopted File No. 041514, which approved Amendment No. 1 to the Project Plan and an updated boun...