City of Milwaukee - File #: 220302

• File #: 220302
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 6/21/2022
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 7/12/2022
• Title: Resolution approving Amendment No. 3 to the Project Plan for Tax Incremental District No. 70, 735 North Water Street, and authorizing additional funding and expenditures, and approving a development agreement, in the 4th Aldermanic District.
• Sponsors: ALD. BAUMAN
• Indexes: TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING

Date	Ver.	Action By	Action	Result	Tally
7/15/2022	0	MAYOR	SIGNED
7/12/2022	0	COMMON COUNCIL	ADOPTED	Pass	11:0
7/6/2022	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Alyssa Remington, DCD Ald. Stamper left the meeting at 10:23 a.m.	Pass	3:0
6/21/2022	0	COMMON COUNCIL	ASSIGNED TO

Number
220302
Version
ORIGINAL
Reference
060961, 091567, 201473
Sponsor
ALD. BAUMAN
Title
Resolution approving Amendment No. 3 to the Project Plan for Tax Incremental District No. 70, 735 North Water Street, and authorizing additional funding and expenditures, and approving a development agreement, in the 4th Aldermanic District.
Analysis
This resolution approves Amendment No. 3 to Tax Incremental District No. 70, which authorizes the expenditure of $1,078,000 in additional project funding for eligible riverwalk and dockwall costs at 333 North Water Street, and to provide funding for infrastructure improvements to city-owned segments of the Milwaukee Riverwalk.
Body
Whereas, The Common Council of the City of Milwaukee (“Common Council”) adopted Common Council File No. 060961 on September 5, 2007, which approved a Project Plan (“Plan”) and created Tax Incremental District No. 70, 735 North Water Street (“TID No. 70” or “District”); and

Whereas, The Common Council adopted File No. 091567 on May 25, 2010, which approved Amendment No. 1 to the Plan for the District; and

Whereas, The Common Council adopted File No. 201473 on April 13, 2021, which approved Amendment No. 2 to the Plan for the District; and

Whereas, Pursuant to Section 66.1105(4)(h)(1), Wisconsin Statutes, on June 16, 2022, the Redevelopment Authority of the City of Milwaukee (“RACM”) conducted a public hearing on Amendment No. 3 to the Plan for the District (“Amendment”), approved such Amendment by resolution and submitted such 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”); and

Whereas, The City, RACM and Hines Acqui...