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File #: 191671    Version: 0
Type: Resolution Status: Passed
File created: 2/11/2020 In control: COMMON COUNCIL
On agenda: Final action: 3/3/2020
Effective date:    
Title: Resolution approving Amendment No. 2 to the Project Plan for Tax Incremental District No. 49 (Cathedral Place), in the 4th Aldermanic District, to allow donations to Tax Incremental District No. 74 (North 35th Street and West Capitol Drive), in the 7th Aldermanic District, and authorizing additional public infrastructure expenditures within the one-half mile radius of the Tax Incremental District No. 49 boundary.
Sponsors: ALD. BAUMAN, ALD. HAMILTON, ALD. DODD
Indexes: TAX INCREMENT FINANCING, TAX INCREMENTAL DISTRICTS
Attachments: 1. Amendment 2 to Project Plan, 2. Fiscal Impact Statement, 3. Comptroller Response, 4. PowerPoint Presentation, 5. Hearing Notice List
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
3/13/20200 MAYOR SIGNED   Action details Meeting details Not available
3/3/20200 COMMON COUNCIL ADOPTED

Minutes note: Ald. Hamilton and Dodd added as cosponsors.
Pass15:0 Action details Meeting details Video Video
2/25/20200 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Appearing: Dan Casanova, Dept. of City Development Lori Lutzka, Dept. of City Development Dave Reid, Cathedral Square Friends Benjamin Timm, Dept. of City Development Joshua Benson, Comptroller's Office
Pass5:0 Action details Meeting details Video Video
2/19/20200 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
2/19/20200 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
2/19/20200 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
2/19/20200 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
2/19/20200 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
2/11/20200 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
191671

Version
ORIGINAL

Reference
011240, 110324, 090325, 140437

Sponsor
ALD. BAUMAN, HAMILTON AND DODD

Title
Resolution approving Amendment No. 2 to the Project Plan for Tax Incremental District No. 49 (Cathedral Place), in the 4th Aldermanic District, to allow donations to Tax Incremental District No. 74 (North 35th Street and West Capitol Drive), in the 7th Aldermanic District, and authorizing additional public infrastructure expenditures within the one-half mile radius of the Tax Incremental District No. 49 boundary.

Analysis
This resolution approves Amendment No. 2 to the Project Plan for Tax Incremental District No. 49 (Cathedral Place) to allow donation to Tax Incremental District No. 74 (North 35th Street and West Capitol Drive) of up to $7,754,926 and to provide up to an additional $1,850,000 in funding for public infrastructure improvements within a one-half mile radius of the Tax Incremental District No. 49 boundary.

Body
Whereas, On March 5, 2002, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 011240, which approved a Project Plan and created Tax Incremental District No. 49 (Cathedral Place) (“TID 49”) to facilitate the development of the Cathedral Place project; and,

Whereas, On July 26, 2011, the Common Council adopted File No. 110324, which approved Amendment No. 1 (“Amendment 1”) to the TID 49 Project Plan to provide funding for the Milwaukee Streetcar Project; and

Whereas, On September 1, 2009, the Common Council adopted File No. 090325, which approved a Project Plan and created Tax Incremental District No. 74 (North 35th Street and West Capitol Drive) (“TID 74”) to assist in the redevelopment of the former Tower Automotive Site; and

Whereas, On July 22, 2014, the Common Council adopted File No. 140437, which approved Amendment 1 to the TID 74 Project Plan to reset TID 74’s base value; and

Whereas, To date, TID 74 has not generated any incremental value despite the re-determination of ...

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