City of Madison - File #: 03829

• File #: 03829
• Version: 1
• Name: Creating Tax Incremental Finance (TIF) District #37 (Union Corners) City of Madison and approving a Project Plan and Boundary for said TIF District.
• Type: Resolution
• Status: Passed
• File created: 5/31/2006
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 7/18/2006
• Final action: 7/18/2006
• Enactment date: 7/20/2006
• Enactment #: RES-06-00607
• Title: Creating Tax Incremental Finance (TIF) District #37 (Union Corners) City of Madison and approving a Project Plan and Boundary for said TIF District. (2nd, 6th, and 15th AD)
• Sponsors: David J. Cieslewicz, Judy K. Olson, Brian Benford, Larry Palm

Date	Ver.	Action By	Action	Result
7/18/2006	1	COMMON COUNCIL	Adopt	Pass
6/26/2006	1	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
6/19/2006	1	PLAN COMMISSION	Return to Lead with the Recommendation for Approval	Pass
6/6/2006	1	COMMON COUNCIL	Refer
6/6/2006	1	BOARD OF ESTIMATES (ended 4/2017)	Refer
5/31/2006	1	Community and Economic Development Unit	Fiscal Note Required / Approval
5/31/2006	1	Finance Dept/Approval Group	Approved Fiscal Note By The Comptroller's Office
5/31/2006	1	Community and Economic Development Unit	Referred for Introduction

Fiscal Note
See Economic Feasibility Section of the Project Plan
Title
Creating Tax Incremental Finance (TIF) District #37 (Union Corners) City of Madison and approving a Project Plan and Boundary for said TIF District. (2nd, 6th, and 15th AD)
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 create a Tax Incremental Finance District and approve a Project Plan; and

WHEREAS Tax Incremental Finance District #37 is 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 creation of the District and the Project Plan for Tax Incremental District #37 was published in the Capital Times on May 31, 2006 and June 7, 2006 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 proposed Tax Incremental Finance District #37; and

WHEREAS the Plan Commission of the City of Madison held a public hearing on June 19, 2006 at which interested parties were afforded an opportunity to express their views on the proposed Project Plan for Tax Incremental District #37; 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 such Tax Incremental District is a blighted area within the meaning of 66.1105(2)(a), 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 such District.

3. The project costs as described in the Project Plan relate directly to eliminating blight and direct...