Fiscal Note
The proposed resolution authorizes a Project Plan Amendment for Tax Incremental District (TID) 42 (Wingra). This amendment authorizes $11.0m in project plan amendments, including $1.0m to support Cannonball Bike Path Construction, $5.0m to support CDA costs at the Village on Park, $4.5m to support land acquisition costs, and $500k for organization, administrative, and professional costs, as well as an additional $576k in financing costs. It also authorizes the donation/allocation of $3,000,000 in positive tax increments from TID 39 to TID 42 and $4,000,000 from TID 36 to TID 42. Under the revised project plan, the total TIF-supported costs are $39.2m. No additional City appropriation is required with the adoption of this resolution.
Title
Approving the Amendment to the Project Plan for Tax Incremental District (TID) 42 (Wingra), City of Madison.
Body
WHEREAS Chapter 105 of the Laws of 1975 of the State of Wisconsin created the Tax Increment Law, Section 66.1105, Wisconsin Statutes; and
WHEREAS said Law sets forth certain steps which must be followed to amend a Tax Incremental District Project Plan; and
WHEREAS the boundary of Tax Incremental District (TID) 42 has not changed and is legally described below; and
WHEREAS a Notice of Public Hearing by the Plan Commission to afford interested parties an opportunity to express their views on the amendment to the TID Project Plan for TID 42 was published in the Wisconsin State Journal on April 8 and April 15, 2022 as required by said Law; and
WHEREAS prior to publication of the Notice of Public Hearing a copy of the Notice was sent by first-class mail to each of the chief executive officers or administrators of all local governmental entities having the power to levy taxes on property within the amended boundary of TID 42; and
WHEREAS the Plan Commission of the City of Madison held a public hearing on April 25, 2022, at which interested parties were afforded an opportunity to express their views on the proposed amendment to the Project Plan for TID 42; and
WHEREAS the Plan Commission has made the following findings as indicated in the attached report:
1. No less than 50%, by area, of the real property within the TID is blighted within the meaning of 66.1105(2), Wisconsin Statutes.
2. The improvement of such area is likely to significantly enhance the value of a substantial portion of the other real property in the TID.
3. The aggregate value of equalized taxable property of the TID, plus all existing TIDs, does not exceed 12% of the total value of equalized taxable property within the City.
4. Tax Incremental District 42 (Wingra) is a blighted area district.
WHEREAS the Plan Commission has determined that the TID meets the basic requirements of City TIF Policy for tax incremental district proposals adopted by the Common Council on April 17, 2001, amended on March 31, 2009, and amended again on February 25, 2014 (insofar as they are applicable to the amendment of a project plan), conforms to the Comprehensive Plan for the City of Madison and is consistent with the review criteria adopted at the same time, specifically, that the TID supports economic development activities intended to stabilize and diversify the City’s economic base.
WHEREAS the boundaries of TID 42 are not being amended and will remain as currently adopted.
NOW THEREFORE BE IT RESOLVED that the Common Council of the City of Madison finds that:
1. No less than 50%, by area, of the real property within the TID was found to be blighted within the meaning of Section 66.1105(2), Wisconsin Statutes at the time of TID creation.
2. The improvement of such area is likely to significantly enhance the value of a substantial portion of the other real property in the TID.
3. The aggregate value of equalized taxable property of the TID, plus all existing TIDs, does not exceed 12% of the total value of equalized taxable property within the City.
4. The project costs relate directly to eliminating blighted conditions.
5. The percentage of territory within TID 42 (Wingra) is under thirty-five (35%) percent.
6. The Donor TIDs (TID 36 Capitol Gateway and TID 39 Stoughton Road) and the recipient TID (TID 42 Wingra) have the same overlying taxing jurisdictions.
7. TID 36 (Capitol Gateway) and TID 39 (Stoughton Road) have sufficient increment revenue to pay all current costs of the donor TIDs and sufficient surplus to pay eligible costs of the recipient TID (TID 42 Wingra).
BE IT STILL FURTHER RESOLVED that $4,000,000 of positive tax increments are donated / allocated from TID 36 (Capitol Gateway) to TID 42 (Wingra) and $3,000,000 of positive tax increments are donated / allocated from TID 39 (Stoughton Road) to TID 42 (Wingra);
BE IT STILL FURTHER RESOLVED that the attached amended Project Plan for TID 42 (Wingra), City of Madison, is hereby adopted as the Project Plan for said District and such plan is feasible and in conformity with the Comprehensive Plan for the City of Madison and will add to the sound growth of the City.
LEGAL DESCRIPTION
Part of the Northeast 1/4, the Southeast 1/4, the Southwest 1/4, and the Northwest 1/4 of Section 26, Township 07 North, Range 09 East of the 4th Principal Meridian, City of Madison, Dane County, Wisconsin, described as follows:
Beginning at the northeasterly corner of Lot 1, Block 4, Fiore Plat, also being the southerly right of way of High Street and the westerly right of way of Fish Hatchery Rd; thence westerly along said southerly right of way of High Street, 120.00 feet, more or less, to the intersection with the southerly extension of the westerly line of Lot 5; thence northerly, 60.00 feet, more or less, to the southwesterly corner of Lot 5, Block 2 of said Fiore Plat; thence northerly along the westerly line of Lots 1-5, said Block 2, 275.00 feet, more or less, to the southerly right of way of S. Brooks Street; thence continuing northerly, 66.00 feet, more or less, to the southeasterly corner of Lot 4, Block 1 of said Fiore Plat; thence westerly along the northerly right of way of said Brooks Street, 54.65 feet, more or less, to the southwesterly corner of said Lot 4; thence northeasterly 152.75 feet, more or less, to the northwesterly corner of said Lot 4, also being on the southwesterly line of Lot 1, Block 1 of said Fiore Plat; thence northwesterly along said southwesterly lot line, 110.1 feet, more or less, to the westerly corner of said Lot 1; thence northeasterly along the northwesterly line of said Lot 1, also being the southeasterly line of Lot 9, Block 1, Vogel’s Addition to the City of Madison, 73.6 feet, more or less, to the southeast corner of said Lot 9; thence continue northeasterly along said northwesterly line of said Lot 1, 24.0 feet, more or less, to the northeasterly line of a private right of way; thence northwesterly parallel with and 24 feet northeasterly of and perpendicular measure to the northeasterly line of said Vogel’s Addition Plat line, and along the northeasterly line of said private right of way, 492.8 feet, more or less, to the northerly corner of said private right of way, also being the southeasterly right of way of Haywood Drive (platted as Ridgewood Avenue); thence northerly, 72.75 feet, more or less, to the southerly corner of Lot 1, Block 2, Back Bay Subdivision and the northerly right of way of said Haywood Drive, also being the southeasterly corner of Lot 6, said Block 2; thence northwesterly along the southwesterly line of Lots 1-5, of said Block 2, 204.3 feet, more or less, to the northwesterly corner of Lot 5, said Block 2, and the southeasterly right of way of Delaplaine Court (platted as Wingra Court); thence northwesterly, 37 feet, more or less, to the southeasterly line of Lot 2, Certified Survey Map No. 11314, and the northwesterly right of way of said Delaplaine Court; thence northeasterly along said northwesterly right of way, 100.0 feet, more or less, to the southeasterly corner of said Lot 2, and the southwesterly right of way of S. Park Street (U.S.H. 151); thence northeasterly 149 feet, more or less, to the northwesterly corner of Lot 1, Certified Survey Map No. 12999 and the northeasterly right of way of S. Park Street (U.S.H. 151); thence easterly along the northerly line of said Lot 1, 92.42 feet, more or less, to the northeasterly corner of said Lot 1, also being the northwest corner of Lot 1, Plat of Addition to West Bay; thence southeasterly along the northeast line of said C.S.M. 12999 and along the northeast line of Lots 6-8, Plat of West Bay, 261.60 feet, more or less, to the easterly corner of Lot 8, said Plat of West Bay; thence southwesterly along the southeasterly line of said Lot 8, 99.4 feet, more or less, to the northeasterly right of way of S. Park Street (U.S.H. 151); thence southeasterly along the northeasterly line of S. Park Street (U.S.H. 151), 360.0 feet, more or less, to the northwesterly line of Lot 18, said Plat of West Bay; thence northeasterly along the northwesterly line of said Lot 18, 100.0 feet, more or less, to the northerly corner of said Lot 18; thence southeasterly along the northeasterly line of said Lot 18, 26.6 feet, more or less, to the easterly corner thereof, said point also being on a line 100.0 feet perpendicular measure to and parallel with the easterly right of way of S. Park Street (U.S.H. 151); thence southeasterly along said parallel line, 54.75 feet, more or less, to a point 34 feet, more or less, northeasterly from the easterly corner of Lot 19 of said Plat of West Bay and perpendicular measure to the right of way of said S. Park Street (U.S.H. 151); thence southwesterly, perpendicular to said S. Park Street, 34 feet, more or less, to the southeasterly corner of said Lot 19; thence southwesterly along the southeasterly line of said Lot 19, 65.8 feet, more or less, to the northeasterly right of way of S. Park Street (U.S.H. 151); thence southeasterly along the northeasterly right of way of S. Park Street (U.S.H. 151), 388.5 feet, more or less, to the northwest line of the southeast 8 inches of Lot 22, Block 10, South Madison; thence northeasterly along said northwest line, 100.00 feet, more or less to the northeast line of the southwest 120 feet of said Lot 22; thence southeasterly along said northeast line, 8 inches, more or less to the southeast line of said Lot 22; thence northeasterly along said southeast line of Lot 22, 30 feet, more or less to the northeast line of the southwest 150 feet of Lot 21, Block 10, of said South Madison; thence southeasterly along said northeast line, 50.0 feet, more or less to the south line of said Lot 21; thence northeasterly along said south line of Lot 21, 9.75 feet, more or less, to the northeast line of the southwest 159.75 feet of Lot 20, Block 10, South Madison; thence southeasterly along said northeast line, 50.00 feet, more or less, to the northwesterly line of Lot 13, Block 10, Richmond Replat; thence southwesterly along said northwesterly line, 0.58 feet, more or less, to the northeasterly corner of Lot 19, Block 10, South Madison; thence southerly along the westerly line of aforementioned Lot 13, also being the easterly line of Lots 18 and 19, said Block 10, 127 feet, more or less, to the northerly right of way of W. Lakeside Street and the southeast corner of said Lot 18; thence southeasterly, 127.1 feet, more or less, to the northeasterly corner of Lot 15, Block 6, of said South Madison, and the southerly right of way of said W. Lakeside Street and the southwesterly right of way of an alley; thence southeasterly along said southwesterly line, 264.67 feet, more or less, to the northeasterly corner of Lot 10 said Block 6, also being on the westerly line of Lot 8 of said Block 6; thence southerly along said westerly line, 87.85 feet, more or less, to the southwesterly corner of said Lot 8, and the northerly right of way of Emerson Street; thence southeasterly, 116.6 feet, more or less, to the northeasterly corner of Lot 10, Block 3 of said South Madison, and being the southerly right of way of said Emerson Street and being the southwesterly right of way of an alley; thence southeasterly along said southwesterly line of an alley, 191.15 feet, more or less, to the southwesterly corner of the alley and to an easterly corner of Lot 6, of said Block 3; thence easterly along the northeasterly line of said Lot 6, 2.85 feet, more or less, to the northeast corner of Lot 6, said point also being the northwesterly corner of Lot 4 of said Block 3; thence southerly along the westerly line of said Lot 4, 150 feet, more or less, to the southwesterly corner of said Lot 4, and the northerly right of way of W. Olin Avenue (platted as Pond Street); thence southwesterly, 68 feet, more or less, to the intersection of the northeasterly right of way of S. Park Street (U.S.H. 151) with the south right of way of said W. Olin Avenue, and the north line of Woodlawn Addition to South Madison; thence southeasterly along said northeasterly right of way, to the intersection with the northerly right of way of Spruce Street; thence easterly along said northerly right of way of Spruce Street, 143.2 feet, more or less, to the southwesterly corner of Lot 16, Block 1, Woodlawn Addition to South Madison; thence southwesterly, 66.25 feet, more or less, to the intersection of the southerly right of way of said Spruce Street with the easterly line of that parcel of land described in Warranty Deed; thence southerly along said easterly line, 150 feet, more or less, to the southeasterly corner thereof, said point also being on the northerly right of way of an alley; thence southerly, 18 feet, more or less, to the intersection of the northeasterly right of way of S. Park Street (U.S.H. 151) with the southerly line of said alley;
thence southeasterly along the northeasterly right of way of said S. Park Street (U.S.H. 151), 80.96 feet, more or less, to a bend point in said right of way; thence southeasterly along said northeasterly right of way, 106.93 feet, more or less, to northerly right of way of Cedar Street; thence easterly along the northerly line of said Cedar Street, 150.00 feet, more or less, to the southeasterly corner of Lot 26, of said Block 2; thence southerly, 66 feet, more or less, to the southerly right of way of said Cedar Street, also being the intersection of the east line of the westerly 10 feet of Lot 2, Block 6, said Woodlawn Addition to South Madison with said right of way; thence southerly along said east line, 110.00 feet, more or less, to the northeasterly right of way of Beld Street (platted as Oregon Street), said point being on the southwesterly line of said Block 6; thence southeasterly along said northeasterly right of way, 222.6 feet, more or less, to a bend point of said Block 6; thence southeasterly along said northeasterly right of way, 45.2 feet, more or less, to the intersection thereof with the northerly right of way of Pine Street; thence southeasterly along said northeasterly right of way of Beld Street to the northwesterly corner of Lot 1, Block 7, Block Seven Woodlawn; thence southeasterly along said northeasterly right of way, 168.33 feet, more or less, to the northerly right of way of an alley and the southwest corner of Lot 2, Block 7, of said Block Seven Woodlawn; thence easterly along said northerly right of way, 303.05 feet, more or less, to the southeasterly corner of Lot 8, said Block 7, and the northwesterly right of way of Gilson Street (platted as Maple Street); thence northeasterly along said northwesterly right of way to a point 76.08 feet southwesterly of the northeasterly corner of Lot 9, Block 3, Woodlawn Addition to Madison, also being the southeasterly corner of Warranty Deed; thence easterly, 70 feet, more or less, to the southwesterly corner of Lot 6, Block 4, said Woodlawn Addition to South Madison; thence southeasterly along the south line of said Lot 6, 181.75 feet (179.8 feet per Woodlawn Addn to South Madison), more or less, to the southeast corner of said Lot 6; thence southeasterly along the southeasterly extension of the south line of said Lot 6 to a line parallel with and distant 15 feet westerly, measured radially, from the centerline of the main track of the Chicago and Tomah railroad company (now the Union Pacific Railway Company); thence northeasterly, along said parallel line, to the southeasterly extension of the north line of said Lot 6; thence northwesterly along said southeasterly extension to the northeast corner of said Lot 6 said Woodlawn Addition to South Madison, and to the southeast corner of Lot 5, also being the westerly right of way of aforementioned railroad; thence northerly along said westerly right of way, and along a curve to the left, also being the easterly line of Block 4 of said Woodlawn Addition to South Madison, 300.5 feet, more or less, to the southeasterly corner of Block 2, of Maple Court; thence northerly along the easterly line of said Block 2, also being said railroad westerly right of way, 336.5 feet, more or less, to the northeasterly corner of said Block 2, and the south right of way of W. Olin Avenue; thence easterly along said south right of way to a point 100 feet, more or less, westerly of the intersection of the northerly extension of Warranty Deed with the south right of way line of W. Olin Avenue; thence southerly, 496.50 feet, more or less, to the northwesterly corner of Lot 1, Certified Survey Map 5781; thence easterly along northerly line of said Lot 1, 20.19 feet, more or less, to the northeasterly corner of said Lot 1; thence southerly along the easterly line of said Lot 1, 731.35 feet, more or less, to a southeasterly corner of said C.S.M.; thence westerly along a southerly line of said C.S.M., 37.12 feet, more or less, to an easterly corner of said C.S.M.; thence southerly along an easterly line of said C.S.M. and an easterly line of Lot 2, said Certified Survey Map Number 5781, 308.57 feet, more or less, to the southeasterly corner of Lot 2 of said Certified Survey Map No. 5781; thence westerly along the southerly line of said Lot 2, 452 feet, more or less, to the southwesterly corner of said Lot 2, also being on the easterly right of way of Union Pacific Railroad, also being a point of curvature; thence southwesterly along said easterly right of way, and along a curve to the right, 568.5 feet, more or less, to the northwest corner of Lot 12, Block 2 of Fair View Addition to South Madison and to the easterly right of way of Beld Street; thence southwesterly 76.75 feet, more or less, to the intersection of the southeasterly right of way of Union Pacific Railroad with the westerly right of way of Beld Street as presently located per surplus railroad disposal deed Document No. 1603243; thence southwesterly along the northwesterly line of said disposal deed Document no. 1603243, 259.1 feet, more or less, to the point of intersection with a straight line drawn between the most easterly corners of S Park Street right-of-way acquisition Document Nos. 761131 and 763144 representing the easterly right of way of S. Park Street (U.S.H. 151); thence westerly in a straight line, 167 feet, more or less, to the most easterly corner of that parcel of land described in Trustee Deed, and the northwesterly right of way of Union Pacific Railroad, and to the west right of way of S. Park Street (U.S.H. 151); thence southwesterly along the southeasterly line of said Trustee Deed, and along the northwesterly right of way of said Union Pacific Railroad, 1089.75 feet, more or less, to the southeasterly corner of said Trustee Deed, and to the South line of the Southwest Quarter of Section 26, Township 07 North, Range 09 East; thence westerly along said South line, 206.6 feet, more or less, to the southwesterly corner of said Trustee Deed, also being the east line of Certified Survey Map Number (CSM#) 8380; thence northerly along the westerly line of said parcel, and along the east line of said C.S.M., 218.00 feet, more or less, to a westerly corner of said Trustee Deed; thence northeasterly along the northwesterly line of said Trustee Deed, and the east line of said C.S.M., also being the southeast line of C.S.M#4420, 732.4 feet (734.8 ft per the platted distance from CSM 4420), more or less, to a westerly corner said Trustee Deed; thence northerly along the westerly line of said parcel, and along the east line of said C.S.M. #4420, 447.6 feet (447.48 ft per the platted distance from CSM 4420), more or less, to the northwest corner of said Trustee Deed, and to the south right of way of Plaenert Drive; thence easterly along said south right of way of Plaenert Drive, 424.0 feet, more or less, to the intersection thereof with the westerly right of way of S. Park Street (U.S.H. 151), also being the northeast corner of said Trustee Deed; thence northerly along the westerly right of way of S. Park Street (U.S.H. 151), 166.0 feet, more or less, to the intersection thereof with the south right of way of Wingra Drive; thence westerly along said south right of way of Wingra Drive, 1019.5 feet, more or less, to the intersection with the southerly extension of the westerly right of way of South Street; thence northerly along said extended west right of way of South Street and along the west right of way of South Street, 294 feet, more or less, to the southeast corner of that parcel described in DEED; thence westerly along southerly line of said parcel and along a line parallel with and 60 feet northerly of and perpendicular measure to the south line of Lot 4, Block 2, Haen Subdivision No. 1, 276.4 feet, more or less, to the southwesterly corner of said DEED and the west line of said Lot 4; thence northerly along the westerly line of said DEED and of said Lot 4, 143.89 feet, more or less, to the northwesterly corner of said Lot 4; thence northwesterly along the southwesterly line of Lot 7, Haen Subdivision No. 1, 131.18 feet (129.65 ft per Haen Subdivision No. 1), more or less, to the western corner of said Lot 7, and to the easterly right of way of Fish Hatchery Road (platted as Fitchburg Street); thence northwesterly, 80.54 feet, more or less, to the southeast corner of Lot 20, Wingra Drive Addition, also being the westerly right of way of Fish Hatchery Road; thence northeasterly and northerly along said westerly right of way of Fish Hatchery Road to the Point of Beginning.