City of Madison - File #: 03305

• File #: 03305
• Version: 2
• Name: Directing the TIF staff team to draft policy changes consistent with the Board of Estimates subcommittee report on TIF regarding TIF process and report back to the Common Council with a draft for introduction by June 6, 2006.
• Type: Resolution
• Status: Passed
• File created: 3/29/2006
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 5/2/2006
• Final action: 5/2/2006
• Enactment date: 5/5/2006
• Enactment #: RES-06-00382
• Title: SUBSTITUTE - Directing the TIF staff team to draft policy changes consistent with the Board of Estimates subcommittee report on TIF regarding TIF process and report back to the Common Council with a draft for introduction by July 11 June 6, 2006.
• Sponsors: Brenda K. Konkel, Michael E. Verveer, Judy K. Olson

Date	Ver.	Action By	Action	Result
5/2/2006	2	COMMON COUNCIL	Adopt	Pass
4/24/2006	2	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
4/18/2006	1	COMMON COUNCIL	Refer	Pass
4/10/2006	1	BOARD OF ESTIMATES (ended 4/2017)	Refer	Pass
4/6/2006	1	Finance Dept/Approval Group	Approved Fiscal Note By The Comptroller's Office (AFTER CC INTRO)
4/4/2006	1	COMMON COUNCIL	Refer
4/4/2006	1	BOARD OF ESTIMATES (ended 4/2017)	Fiscal Note Required / Approval
3/29/2006	1	Council Office	Referred for Introduction

Fiscal Note
The policy draft required by this resolution can be completed through reallocation of existing staff resources.
Title
SUBSTITUTE - Directing the TIF staff team to draft policy changes consistent with the Board of Estimates subcommittee report on TIF regarding TIF process and report back to the Common Council with a draft for introduction by July 11 June 6, 2006.
Body
WHEREAS, on April 17, 2001 the Common Council adopted TIF Objectives and Policy for the City of Madison; and

WHEREAS, on June 27, 2005, the Board of Estimates received the Board of Estimates TIF Subcommittee Report entitled "Findings and Recommendations Concerning TIF Policy" dated June 13, 2005; and

WHEREAS, said Report was the culmination of over one year of subcommittee meetings, public hearings and testimony concerning potential changes to the existing TIF Policy; and

WHEREAS, on July 5, 2005 the report was referred to the Economic Development Commission, Plan Commission, Housing Committee and Board of Estimates; and

WHEREAS, on September 7, 2005 the Economic Development Commission recommended approval of the report; and

WHEREAS, on September 7, 2005 the Housing Committee recommended adoption of the resolution to accept the Board of Estimates subcommittee report on TIF; and

WHEREAS, on November 7, 2005 the Plan Commission recommended approval of the report; and

WHEREAS, the Board of Estimates has not acted on the report of their subcommittee; and

WHEREAS, the Board of Estimates subcommittee made the following findings and recommendations concerning the TIF process:

1) Establish a deadline to create new TIDs required to provide TIF assistance. This recommendation involves situations where a developer requests TIF assistance where no Tax Incremental District (TID) exists. TIF Law requires that a TIF district be adopted by Common Council prior to September 30 in order for it to be effective as of the year of its creation. The typical TID creation p...