Title
Resolution approving an amendment to the Project Plan for Tax Incremental District Number Seven (Summit Place), City of West Allis, Wisconsin.
Body
WHEREAS, the Common Council, by Resolution No. R-2004-0037 on February 18, 2004, adopted the Project Plan for Tax Incremental District Number Seven, by Resolution No. R-2005-0160 on May 3, 2005 adopted Amendment Number One to Tax Incremental District Number Seven, by Resolution No. R-2007-0281 on November 20, 2007 adopted Amendment Number Two to Tax Incremental District Number Seven, by Resolution No. R-2009-0031 on February 3, 2009 adopted Amendment Number Three, and by Resolution No. R-2013-0023 on February 19, 2013 adopted Amendment Number Four to Tax Incremental District Number Seven, City of West Allis, Wisconsin; and,
WHEREAS, the Community Development Authority of the City of West Allis (the "Authority") has prepared, adopted on October 14, 2014 by Resolution No. 1084 as amended, and submitted to the Common Council a proposed Amendment Number Five to the Project Plan; and,
WHEREAS, the Amendment will provide $2,260,000 in tax incremental financing funds for the cost of acquisition, demolition, relocation and/or rehab, park improvements, and/or street improvements; economic incentive package(s) to a business/businesses within the District's boundaries and/or within a 1/2-mile radius of the District boundaries; additional funding of the existing Neighborhood Residential Improvement Program; and, administrative expenses. All of these expenses may 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 ...
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