City of Milwaukee - File #: 220634

• File #: 220634
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 9/1/2022
• In control: COMMON COUNCIL
• Final action: 9/20/2022
• Title: Substitute resolution approving Amendment No. 6 to the Project Plan for Tax Incremental District No. 56, (Erie Jefferson), and authorizing additional 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
9/28/2022	1	MAYOR	SIGNED
9/20/2022	1	COMMON COUNCIL	ADOPTED	Pass	11:0
9/13/2022	1	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Alyssa Remington, Dept. of City Development	Pass	4:0
9/2/2022	1	CITY CLERK	DRAFT SUBMITTED
9/1/2022	0	COMMON COUNCIL	ASSIGNED TO

Number
220634
Version
SUBSTITUTE 1
Reference
040639, 090791, 130268, 141264, 150911, 170497
Sponsor
ALD. BAUMAN
Title
Substitute resolution approving Amendment No. 6 to the Project Plan for Tax Incremental District No. 56, (Erie Jefferson), and authorizing additional expenditures, and approving a development agreement, in the 4th Aldermanic District.
Analysis
The Common Council of the City of Milwaukee created Tax Incremental District No. 56 in 2004 by adoption of Common Council File No. 040639 to, among other things, increase public access to the Milwaukee River by construction of riverwalk and plazas, to provide assistance in funding for riverwalk improvements and to remove or improve obsolete railroad facilities. TID No. 56 was amended in 2009, by adoption of File No. 090791, to establish TID No. 56 as a “Donor” district to allow surplus revenue from TID No. 56 to be transferred to certain “Recipient” districts. TID No. 56 was amended again in 2013, by adoption of File No. 130268, to approve donation of funds from TID No. 56 to TID Nos. 58, 65 and 66 as well as to provide $128,000 for the acquisition of the former railroad right-of-way located at 501 East Erie Street and engineering studies thereof. TID No. 56 was amended in 2014, by adoption of File No. 141264, to increase funding for riverwalk improvements, provide funding for public improvements, provide funding for public infrastructure related to the Milwaukee Streetcar and to provide a cash grant for business relocation. TID No. 56 was amended again in 2015, by adoption of File No. 150911, to provide funding for dockwall improvements. TID 56 was amended for a 5th time, by adoption of File No. 170497 in 2017 to provide $1,170,650 in funding for the construction of Trestle Park at 501 East Erie Street.

This resolution approves Amendment No. 6 to TID No. 56, which authorizes the expenditure of $3,755,000 in additional project funding for eligible public infrastructure costs related to an extension...