Number
220305
Version
ORIGINAL
Reference
000428, 051108, 130246, 141313, 160299, 161500
Sponsor
ALD. COGGS
Title
Resolution approving Amendment No. 5 to the Project Plan for Tax Incremental District No. 41, Time Warner Riverwalk, and authorizing additional funding and expenditures, and approving a grant agreement, in the 6th Aldermanic District.
Analysis
This resolution approves Amendment No. 5 to TID No. 41, which authorizes the expenditure of $5,500,000 in additional project funding for public infrastructure improvements and various street amenities, and $1,000,000 to support programs that provide affordable rental opportunities and promote affordable home ownership opportunities.
Body
Whereas, Boundaries and a Project Plan for Tax Incremental District (“TID” or “District”) No. 41 were approved by the Redevelopment Authority of the City of Milwaukee (“RACM”) and the Common Council of the City of Milwaukee (“Common Council”) on September 22, 2000 by adoption of Common Council File No. 000428; and
Whereas, The Common Council adopted File No. 051108 on February 7, 2006, which approved Amendment No. 1 to the Project Plan for the District; and
Whereas, The Common Council adopted File No. 130246 on July 2, 2013, which approved Amendment No. 2 to the Project Plan for the District; and
Whereas, The Common Council adopted File No. 160299 on July 6, 2016, which approved Amendment No. 3 to the Project Plan for the District; and
Whereas, The Common Council adopted File No. 161500 on March 1, 2017, which approved Amendment No. 4 to the Project Plan for the District; and
Whereas, Pursuant to Section 66.1105(4)(h)(1), Wisconsin Statutes, on June 16, 2022, RACM conducted a public hearing on Amendment No. 5 to the Project 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...
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