Title
Resolution relative to approving the First Amendment to the Project Plan and amending the Project Plan boundary for Tax Incremental District Number Eleven, City of West Allis, Wisconsin (84th & Greenfield)
Body
WHEREAS, the Common Council of the City of West Allis (the "City") by Resolution Nos. R-2009-0202 and R-2009-0203, on September 15, 2009, adopted the Project Plan and boundaries for Tax Incremental District Number Eleven, City of West Allis, Wisconsin (the "Project Plan"); and,
WHEREAS, the Community Development Authority of the City of West Allis (the "Authority") has prepared, adopted on February 9, 2016 by Resolution No. 1166, and submitted to the Common Council a proposed Amendment Number One to the Project Plan and Amendment to the Project Plan boundary; and,
WHEREAS, the Amendment will provide approximately $7,291,932 in tax incremental financing funds for the cost of developer financing; storm water expenses; economic and neighborhood residential acquisition, demolition, relocation and/or rehab within the District's boundaries and/or within a 1/2-mile radius of the District boundaries; park improvements, and/or traffic/street improvements within the District's boundaries and/or within a 1/2-mile radius of the District boundaries; soil management; capitalized interest; administrative expenses; and, other costs attendant to the Project, as generally specified in Amendment Number One to Tax Incremental District Number Eleven. All of these expenses, if incurred, will occur within the District's boundaries and/or within a 1/2-mile radius of the District boundaries; and,
WHEREAS, the proposed off-site improvements are eligible Tax Incremental Financing project costs pursuant to the provisions of State Statutes 66.1105(2)(f)1.n., which provides that "project costs incurred for territory that is located within a one-half mile radius of the district's boundaries and within the city that created the district" can be a project cost of a T...
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