City of Milwaukee - File #: 081070

• File #: 081070
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 11/25/2008
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 12/16/2008
• Title: Resolution approving a Project Plan and creating Tax Incremental District No. 72, Bishop’s Creek, authorizing expenditures and approving the terms of Development Agreements and a Cooperation Agreement to implement the Project Plan, in the 1st and 7th Aldermanic Districts.
• Sponsors: THE CHAIR
• Indexes: AGREEMENTS, TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING

Date	Ver.	Action By	Action	Result	Tally
12/22/2008	0	MAYOR	SIGNED
12/16/2008	0	COMMON COUNCIL	ADOPTED	Pass	15:0
12/16/2008	0	COMMON COUNCIL	AMENDED; Minutes note: Amendment #3 Ald. Witkowiak moved to amend the term sheet attached to the file titled "Common Bond Communities - Bishop's Creek Family Housing Project (Kaiser Tannery Redevelopment Phase 1A)" by adding the following under "Disbursements": F. The disbursement of TID funds be contingent upon all financing sources for Phase 1A being finalized and the term sheet attached to the file titled "Bishop's Creek CDC Kaiser Tannery Redevelopment Project - Phase 1A" by adding the following under "Disbursements Funding #2". F. the disbursement of TID funds be contingent upon all financing sources for Phase 1A being finalized. Ald. Witkowski moved that the Common Council resolve itself into a Committee of the Whole for the purpose of hearing from the office of the Comptroller in this matter. With two objections, so ordered. Mr. Michael Daun, deputy comptroller, appeared and addressed the Common Council in this matter. Ald. Witkowiak moved that the Committee of the Whole rise. There was no objection.	Pass	15:0
12/16/2008	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals present: Maria Prioletta - Dept. of City Development Ald. Hamilton Ellen Higgins - Common Bond Communities Karen Bond - Community Development Corporation Mike Daun - Comptroller's Office	Pass	4:0
12/12/2008	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
12/12/2008	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
12/9/2008	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HELD TO CALL OF THE CHAIR; Minutes note: Individuals present: Maria Prioletta - Dept. of City Development Darrin Daniels - Bishop's Creek Development Corporation Ellen Higgins - Common Bond Development Community Tony Smith - Financial consultant from S.B. Friedman Mike Daun - Comptroller's Office A special meeting of the committee might be held prior to the Common Council meeting on December 16th if the Comptroller's Office is satisfied.	Pass	5:0
12/4/2008	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/25/2008	0	COMMON COUNCIL	ASSIGNED TO

Number
081070
Version
ORIGINAL
Reference

Sponsor
THE CHAIR
Title
Resolution approving a Project Plan and creating Tax Incremental District No. 72, Bishop’s Creek, authorizing expenditures and approving the terms of Development Agreements and a Cooperation Agreement to implement the Project Plan, in the 1st and 7th Aldermanic Districts.
Analysis
This resolution approves a Tax Incremental District Project Plan to provide $1,585,000 in financial assistance for the development of Phase I of the Bishop’s Creek Project, which will include demolition and site remediation activity on the former Kaiser Tannery site located at 32nd and Hampton to prepare the site for redevelopment and the construction of a new 55-unit affordable housing project. The Tax Incremental District No. 72 Project Plan also creates a forgivable loan pool of $300,000 for exterior home improvements for property owners in the district. The Tax Incremental District is bounded by North 32nd Street, North 38th Street, West Congress Street and West Hampton Avenue (including the northwest corner of 32nd and Hampton). This resolution also approves the terms of a Development Agreement with Bishop’s Creek Community Development Corporation, Common Bond Communities and a Cooperation Agreement with the Redevelopment Authority of the City of Milwaukee for the purposes of implementing the Project Plan.
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, Section 66.1105(4) of the Tax Increment Law sets forth certain criteria that the Common Council of the City of Milwaukee (“Common Council”) and the Redevelopment Authority of the City of Milwaukee (“Authority”) must follow to create a Tax Incremental District (“District” or “TID”) and approve a Project Plan for a District; and

Whereas, Pursuant to Section 66.1105(4)(a) through (gm), Wisconsin Statut...