Fiscal Note
This amendment to the TID #29 project plan updates the original plan to authorize all project costs which have already been incurred and to authorize additional future expenditures. The revised expenditure plan is based on the current projection of total TIF increment which may be generated during the remaining life of the district. See the Summary of Project Cost and Economic Feasibility Section of the Project Plan for a full description of estimated project expenditures, financing costs and expected future tax increment anticipated in this plan.
Title
Approving a Project Plan Amendment for Tax Incremental Finance (TIF) District #29 (Allied Drive) City of Madison. 10th Ald. Dist.
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 Finance District Project Plan; and
WHEREAS the City of Madison desires to make additional project expenditures; and
WHEREAS the amended Project Plan for Tax Incremental Finance District #29 does not modify the District boundaries; and
WHEREAS a Notice of Public Hearing by the Plan Commission to afford interested parties an opportunity to express their views on the amended Project Plan for Tax Incremental District #29 was published in the Capital Times on July 20, 2006 and July 28, 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 Tax Incremental Finance District #29; and
WHEREAS the Plan Commission of the City of Madison held a public hearing on August 7, 2006 at which interested parties were afforded an opportunity to express their views on the proposed amended Project Plan for Tax...
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