Number
231947
Version
SUBSTITUTE 1
Reference
060911
Sponsor
ALD. BAUMAN
Title
Substitute resolution approving Amendment No. 1 to the Project Plan for Tax Incremental District No. 67 (Pabst Brewery/The Brewery Project) and authorizing expenditures, in the 4th Aldermanic District.
Analysis
Tax Incremental District No. 67 was created in 2006 to encourage redevelopment of the former Pabst Brewery complex by providing funds for public infrastructure and for building demolition, abatement and preservation. This proposed Amendment No. 1 to Tax Incremental District No. 67 would provide up to $4,900,000 for public infrastructure improvements and $250,000 in administrative costs, totaling $5,150,000.
Body
Whereas, On December 12, 2006, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 060911, which approved a Project Plan and created Tax Incremental District No. 67 (Pabst Brewery/The Brewery Project) (the “District”); and
Whereas, Pursuant to Section 66.1105(4)(h)(l), Wisconsin Statutes, on April 18, 2024, 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 the Amendment by resolution and submitted the 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, Per Section 66.1105(5)(b), Wisconsin Statutes, 10 percent of the territory within the District will be devoted to retail business at the end of the maximum expenditure period; and
Whereas, The Amendment will fund public infrastructure improvements within one half-mile of the District’s boundarie...
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