Number
190171
Version
SUBSTITUTE 1
Reference
141313, 160297
Sponsor
ALD. BAUMAN
Title
Substitute resolution authorizing expenditures from Tax Incremental District No. 88 (4th and Wisconsin), in the 4th Aldermanic District.
Analysis
Tax Incremental District No. 88 was created in 2016 to provide $8,000,000 in funding for an extension of the streetcar system, which at that time was called the 4th Street Extension. However, the Common Council resolution stated that the $8,000,000 could only be expended if additional Federal or private funds were secured for the 4th Street Extension. This substitute resolution removes that restriction so that $8,000,000 of the funds can be used to fund Phase 1 of the Bronzeville Extension of the streetcar system to West Wisconsin Avenue.
Body
Whereas, On July 6, 2016, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 160297, which approved a Project Plan and created Tax Incremental District No. 88 (the “District”); and
Whereas, The last Further Resolved clause of File No. 160297 states, “Further Resolved, That the $8,000,000 in funding from this District for the Milwaukee Streetcar’s 4th Street Extension will not be expended unless the City of Milwaukee (“City”) is successful in receiving a Federal grant or private funds necessary to complete the 4th Street Extension of the Milwaukee Streetcar Project”; and
Whereas, The City wishes to move forward with locally funding Phase 1 of the Bronzeville Extension (previously called the 4th Street Extension) of the streetcar system to West Wisconsin Avenue; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the last Further Resolved clause of File No. 160297 is no longer in effect and that City departments are authorized to expend up to $8,000,0000 from the District to fund Phase 1 of the Bronzeville Extension to West Wisconsin Avenue; and, be it
Further Resolved, That all other Whereas, Resolved and Further Resolved...
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