Number
190175
Version
SUBSTITUTE 2
Reference
090564, 090688, 140453 and 141313
Sponsor
ALD. PEREZ AND BAUMAN
Title
Substitute resolution approving Amendment No. 3 to the Project Plan and authorizing expenditures for Tax Incremental District No. 75 (Reed Street Yards), in the 12th Aldermanic District.
Analysis
Tax Incremental District No. 75 (Reed Street Yards) was created in 2009 and amended in 2011 and 2014 to provide public infrastructure funding for the redevelopment of the Reed Street Yards. Amendment No. 3 to the District reallocates $3,400,000 that was previously approved for the Public/Private Venture Fund to fund additional sewer and public infrastructure work at the Reed Street Yards.
Body
Whereas, On September 22, 2009, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 090564, which approved a Project Plan and created Tax Incremental District No. 75 (Reed Street Yards) (the “District”); and
Whereas, On November 30, 2011, the Common Council adopted File No. 090688, which approved Amendment No. 1 to the Project Plan for the District; and
Whereas, On July 22, 2014, the Common Council adopted File No. 140453, which approved Amendment No. 2 to the District; and
Whereas, Pursuant to Section 66.1105(4)(h)(l), Wisconsin Statutes, on October 17, 2019, the Redevelopment Authority of the City of Milwaukee (“Authority”) conducted a public hearing on Amendment No. 3 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, B...
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