City of Milwaukee - File #: 110324

• File #: 110324
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 7/6/2011
• In control: STEERING & RULES COMMITTEE
• Final action: 7/26/2011
• Title: Substitute resolution approving Amendment No. 1 to the Project Plan and authorizing expenditures for Tax Incremental District No. 49, Cathedral Place, in the 4th Aldermanic District.
• Sponsors: ALD. BAUMAN, ALD. KOVAC, ALD. WADE, James N. Witkowiak, ALD. HAMILTON, ALD. WITKOWSKI
• Indexes: TAX INCREMENTAL DISTRICTS, TAX INCREMENTAL FINANCING

Date	Ver.	Action By	Action	Result	Tally
7/27/2011	1	MAYOR	SIGNED
7/26/2011	1		AMENDED		10:5
7/26/2011	1	COMMON COUNCIL	ADOPTED	Pass	10:5
7/14/2011	1	STEERING & RULES COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Rocky Marcoux, Commissioner, Department of City Development Jim Scherer, Department of City Development	Pass	5:1
7/12/2011	0	STEERING & RULES COMMITTEE	HEARING NOTICES SENT
7/11/2011	1	CITY CLERK	Sponsor added
7/6/2011	0	COMMON COUNCIL	ASSIGNED TO

Number
110324
Version
SUBSTITUTE 1
Reference
011240, 110372
Sponsor
ALD. BAUMAN, KOVAC, WADE, WITKOWIAK, HAMILTON AND WITKOWSKI
Title
Substitute resolution approving Amendment No. 1 to the Project Plan and authorizing expenditures for Tax Incremental District No. 49, Cathedral Place, in the 4th Aldermanic District.
Analysis
The Common Council created Tax Incremental District No. 49 in 2002 to fund certain costs in conjunction with the construction of a mixed-use building at the southwest corner of East Wells and North Jackson Streets, which includes office, retail, condominiums and parking. The purpose of the original Project Plan was to fund parking and public infrastructure. Amendment No. 1 will provide $9,700,000 to fund additional public infrastructure costs associated with the Milwaukee Streetcar project.
Body
Whereas, On March 5, 2002, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 011240, which approved a Project Plan and created Tax Incremental District No. 49 (Cathedral Place) (the “District”); and

Whereas, Pursuant to Section 66.1105(4)(h)(l), Wisconsin Statutes, on July 14, 2011, 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, Common Council File No. 110372, contemplates advancing the Milwaukee Streetcar project into final design and approving construction and procurement of the necessary infrastructure and vehicles to operate a streetcar system in the central business district of the City of Milwaukee (“City”); and

Whereas, The $9,700,000 local match for the Milwaukee Streetcar project will be funded by Amendment No. 1 to the District; and

Whereas, Section 66.1105(4)(g) and (h)(1), Wisconsin Statutes, provides that an amendment to...