City of Milwaukee - File #: 211611

• File #: 211611
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 2/8/2022
• In control: COMMON COUNCIL
• Final action: 3/1/2022
• Title: Resolution approving Amendment No. 2 to the Project Plan for Tax Incremental District No. 54 (Stadium Business Park), in the 8th Aldermanic District.
• Sponsors: ALD. ZAMARRIPA
• Indexes: TAX INCREMENTAL DISTRICTS

Date	Ver.	Action By	Action	Result	Tally
3/8/2022	0	MAYOR	SIGNED
3/1/2022	0	COMMON COUNCIL	ADOPTED	Pass	14:0
2/22/2022	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Lori Lutzka, DCD A presentation was given on Amendment No. 2 to the Project Plan for TID 54 (Stadium Business Park).	Pass	5:0
2/8/2022	0	COMMON COUNCIL	ASSIGNED TO

Number
211611
Version

Reference
031578, 161075
Sponsor
ALD. ZAMARRIPA
Title
Resolution approving Amendment No. 2 to the Project Plan for Tax Incremental District No. 54 (Stadium Business Park), in the 8th Aldermanic District.
Analysis
Tax Incremental District No. 54 was created in 2004 for the purpose of facilitating redevelopment of the former Ampco Metal foundry site at South 38th and West Mitchell Streets, including construction of four multi-tenant light industrial and distribution facilities. The district was amended in 2016 for the purpose of donating positive tax increments to Tax Incremental District No. 59 (Bronzeville). This proposed Amendment No. 2 to Tax Incremental District No. 54 would provide up to $2,490,000 for public infrastructure improvements, $100,000 for administration and up to $2,839,648 in donations to Tax Incremental District No.74.
Body
Whereas, The Common Council of the City of Milwaukee (“Common Council”) adopted File No. 031578, on April 13, 2004 which approved a Project Plan (“Plan”) and created Tax Incremental District No. 54 (Stadium Business Park) (“TID No. 54” or “District”); and

Whereas, The Common Council adopted File No. 161075 December 13, 2016, which approved Amendment No. 1 to the Project Plan for the District; and

Whereas, To date, Tax Incremental District No. 74 (“TID No. 74”) has not generated any incremental value despite the re-determination of its base in 2014; and

Whereas, TID No. 54 and TID No. 74 remain in existence and have not been statutorily terminated; and

Whereas, The Department of City Development (“DCD”) staff recommended that TID No. 54’s Project Plan be amended under Wis. Stat. 66.1105 (4)(h)1, with approval by the Common Council, the Redevelopment Authority of the City of Milwaukee (“RACM”) and the Joint Review Board, and with the findings in 66.1105 (4)(g):

· To donate up to $2,839,648 from TID No. 54 to TID No. 74 by allocating positive tax increments from TID No. 54 to TID No. 74 f...