Title
Resolution approving an amendment to the Project Plan for Tax Incremental District Number Three (Quad/Graphics), City of West Allis, Wisconsin.
Body
WHEREAS, Tax Incremental District Number Three (Quad/Graphics), (the "District"), of the City of West Allis, Wisconsin (the "City") was created by the City pursuant to a Project Plan dated July 12, 1994, and amended in 2000 and 2008 (the "Project Plan"), as a "blight district" based on a finding that not less than 50% by area of the real property in the District is determined to be blighted and is suitable for industrial sites within the meaning of Section 66.1101 of the Wisconsin Statutes and has been zoned for industrial use; and,
WHEREAS, under the provisions of Sections 66.1105(4)(h) and 66.1335(1) of the Wisconsin Statutes, the City has caused Project Plan Amendment Number Three (the "Project Plan Amendment") to be prepared by the Community Development Authority of the City (the "Authority"), to amend the Project Plan to allocate an estimated $2.9 million of positive revenue from the District to TID 6 (67th Place Industrial Park), TID 5 (Six Points) and overlying taxing jurisdictions; and,
WHEREAS, the Authority hereby finds that the City meets the conditions for such an allocation amendment; as follows:
a. There were no changes in taxing jurisdictions;
b. The TID was created upon a finding that not less than 50 percent, by area, of the real property is blighted; and,
c. The District will have excess positive tax increments after satisfaction of all its current year debt service and project cost obligations; and,
WHEREAS, the Project Plan, as amended by the Project Plan Amendment, includes (a) a statement listing the kind, number and location of all proposed public works or improvements within the District, as amended; (b) an economic feasibility study; (c) a detailed list of estimated project costs; (d) a description of the methods of financing all estimated project costs and the time when the costs or monetary obligations related thereto are to be incurred; (e) a map showing existing boundaries, uses and conditions of real property in the District; (f) a map showing proposed boundaries, improvements and uses in the District; (g) proposed changes in zoning ordinances, the City's master plan, map, building codes or ordinances; (h) a list of estimated non-project costs; (i) a statement of the proposed method for the relocation of any persons being displaced; (j) a statement indicating how amendment of the District promotes orderly development of the City and (k) a legal opinion advising that the Project Plan Amendment is complete and complies with Section 66.1105 of the Wisconsin Statutes; and,
WHEREAS, on January 29, 2013, the Community Development Authority held a public hearing at which all interested parties were afforded a reasonable opportunity to express their views on the District and the proposed Project Plan Amendment.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis, pursuant to its authority under Section 66.1105(6) of the Wisconsin Statutes, that the amended Project Plan for the District, a copy of which is attached hereto as "Exhibit A" and by reference made a part hereof, be and is hereby approved and adopted.
BE IT FURTHER RESOLVED by the Common Council that based on the information set forth in the Project Plan Amendment, including the economic feasibility report, which is a part of such Project Plan Amendment, this Common Council finds and determines that the Project Plan Amendment is feasible.
BE IT FURTHER RESOLVED by the Common Council that based on the information set forth in the Project Plan Amendment, this Common Council hereby finds and determines that the Project Plan Amendment is in conformity with the master plan of the City.
BE IT FURTHER RESOLVED by the Common Council that any positive revenue from Tax Incremental District Number Three (Quad/Graphics) that will be allocated to the City of West Allis as one of the overlying taxing jurisdictions, shall be placed in a Special Project Balance Sheet Account, accessible for future City use only with a ¾ supermajority vote by the Common Council.
cc: Development Department
DEV-R-700 AS AMENDED-2-11-13