Title
RESOLUTION APPROVING THE CREATION OF THE PROJECT PLAN AND BOUNDARY AND THE USE OF THE “HALF MILE RULE” FOR TID 56 (Grand Canyon)
Body
WHEREAS, the Tax Increment Finance District Joint Review Board for TID 56 (Grand Canyon) held an organizational meeting on June 4, 2026 for the purpose of receiving an overview on the proposed creation of the Project Plan and boundary for TID 56; and
WHEREAS, the City of Madison Plan Commission held a public hearing regarding the creation of the Project Plan for TID 56 on June 15, 2026 for the purpose of hearing public comment on the creation of to the Project Plan and boundary; and
WHEREAS, the Plan Commission of the City of Madison recommended adoption of a resolution adopting said Project Plan and boundary on June 15, 2026; and
WHEREAS, the Common Council of the City of Madison adopted Resolution No. ______, I.D. No. ______ on July 7, 2026 approving said creation of the Project Plan and boundary for said district; and
WHEREAS, the Joint Review Board met on ______ to review the record and found that but for the creation of the project plan and boundary of TID 56, the projects described therein would not occur; and
WHEREAS, the Joint Review Board for TID 56 has considered the creation of the Project Plan and boundary in light of the requirements of Sec 66.1105(4m) Wis. Stats., specifically including the criteria identified under Sec 66.1105(4m)(c)(1), Wis. Stats., and
WHEREAS, the Joint Review Board has determined that the economic benefits of the proposed creation of the tax incremental district, as measured by increased employment, business and personal income and property value, are sufficient to compensate for the cost of the proposed improvements; and
WHEREAS, the Joint Review Board has determined that the benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions, and
WHEREAS, the Joint Review Board examined the Common Counc...
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