Number
221110
Version
ORIGINAL
Reference
120657
Sponsor
THE CHAIR
Title
Resolution approving Amendment No. 1 to the Project Plan, authorizing expenditures for Tax Incremental District No. 77 (HellermannTyton), in the 9th Aldermanic District.
Analysis
Tax Incremental District No. 77 was created in 2012 to provide $750,000 to assist HellermannTyton to acquire, upgrade and equip their Good Hope Road facility for additional production space. This proposed Amendment No. 1 to Tax Incremental District No. 77 would provide up to $1,114,335 for public infrastructure improvements and $100,000 for administration.
Body
Whereas, On September 25,2012, the Common Council of the City of Milwaukee (“Common Council”) adopted Common Council File No. 120657, which approved a Project Plan and created Tax Incremental District No. 77 (HellermannTyton) (the “District”); and
Whereas, Amendment No. 1 to the Project Plan for the District will fund up to $1,114,335 in public infrastructure improvements within a one-half mile radius of the District’s boundary as allowed by Wis. Stat. 66.1105 (2)(f)1.n. and by 66.1105 (4m)(d) and $100,000 for administration; and
Whereas, Pursuant to Section 66.1105(4)(h)(1), Wisconsin Statutes, on November 17, 2022, the Redevelopment Authority of the City of Milwaukee conducted a public hearing on Amendment No. 1 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)(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”); now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that it finds and determines as foll...
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