Number
110085
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. WADE AND HAMILTON
Title
Substitute resolution approving a Development Plan for the Century City Industrial Park Project, in the 7th Aldermanic District.
Analysis
Adoption of this substitute resolution by at least two-thirds vote of the Common Council will approve a Development Plan for the Century City Industrial Park Project with determinations set forth in Section 66.1303(4), Wisconsin Statutes. Such approval is a prerequisite for implementing a New Markets Tax Credit financing and exercising the powers to be granted to the Century City Redevelopment Corporation under Section 66.1301, Wisconsin Statutes.
Body
Whereas, On February 17, 2005, the Redevelopment Authority of the City of Milwaukee (“Authority”) approved the boundary for the West Capitol and North 35th Street Redevelopment Project Area and determined that the area qualifies as “blighted” under Section 66.1333(2m)(b)3, Wisconsin Statutes; and
Whereas, On March 16, 2005, the Common Council of the City of Milwaukee (“Council”) declared the West Capitol and North 35th Street Redevelopment Project Area blighted within the meaning of Section 66.1333(2m), Wisconsin Statutes, approved the Project Area boundaries designated by the Authority and requested that the Authority prepare a Redevelopment Plan for the Project Area; and
Whereas, A Redevelopment Plan for the North 35th Street - West Capitol Drive Redevelopment Project Area was adopted by the Authority on May 19, 2005 and by the Council on June 14, 2005 to create industrial development sites to promote job creation and designated the area as “Century City;” and
Whereas, Amendment No. 1 to the North 35th Street - West Capitol Drive (Century City) Redevelopment Plan was adopted by the Authority on August 19, 2010 and by the Council on November 3, 2010, to clarify permitted and prohibited land uses in the project area, to designate a City-owned property for acquisition by the Authority...
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