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File #: 170169    Version: 0
Type: Resolution Status: Passed
File created: 5/9/2017 In control: COMMON COUNCIL
On agenda: Final action: 5/31/2017
Effective date:    
Title: Resolution approving Amendment No. 1 to the Project Plan and authorizing expenditures for Tax Incremental District No. 82 (East Michigan Street), in the 4th Aldermanic District.
Sponsors: ALD. BAUMAN
Indexes: TAX INCREMENTAL DISTRICTS
Attachments: 1. Amendment No. 1 to Project Plan as of 4-21-17, 2. Fiscal Impact Statement, 3. Comptroller Response, 4. Hearing Notice List, 5. PowerPoint Presentation
Number
170169
Version
ORIGINAL
Reference
141263
Sponsor
ALD. BAUMAN
Title
Resolution approving Amendment No. 1 to the Project Plan and authorizing expenditures for Tax Incremental District No. 82 (East Michigan Street), in the 4th Aldermanic District.
Analysis
Tax Incremental District No. 82 was created in 2015 for the purpose of funding a multimodal transportation hub at The Couture development proposed for the property located at 909 East Michigan Street and other public improvements, infrastructure and amenities necessary to expand transit options and promote development of the District and surrounding properties, infrastructure for the Milwaukee Streetcar initial and lakefront lines, workforce training and administration expenses totaling $49,550,000.

Amendment No. 1 revises the Project Plan to authorize $2,000,000 in additional funding for sewer and other public infrastructure work within one half-mile of the District’s boundary.
Body
Whereas, On February 10, 2015, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 141263, which approved a Project Plan and created Tax Incremental District No. 82 (the “District” or “TID No. 82”); and

Whereas, Pursuant to Section 66.1105(4)(h)(l), Wisconsin Statutes, on May 4, 2017, 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 the Project Plan, as amended, is feasible and in conformity with the Master Plan of the City of Milwaukee (“City”); now, therefore, be it

Resolved, By the Common Council ...

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