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 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 January 29, 2013 by Resolution No. 971, and submitted to the Common Council a proposed Amendment Number Four to the Project Plan; and,
WHEREAS, the Amendment will provide $3.25 million in tax incremental financing funds for on-and off-site improvements and administrative fees. The proposed improvements include additional parking to the Office Complex users, an economic development incentive package to one or more businesses within the Office Complex, and off-site improvements to the surrounding neighborhood under the Neighborhood Residential Improvement Program; 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 Tax Incremental Finance District; and,
WHEREAS, the Authority has duly noticed and held a public hearing on January 29, 2013, at which all interested parties were afforded a reasonable opportunity to express their views on...
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