Madison, WI Header
File #: 26225    Version: 1 Name: 9565 TID #42 Creation Reso
Type: Resolution Status: Passed
File created: 4/30/2012 In control: PLAN COMMISSION
On agenda: 5/15/2012 Final action: 7/3/2012
Enactment date: 7/5/2012 Enactment #: RES-12-00485
Title: Approving the Creation of and the Project Plan and Boundary for Tax Incremental District (TID) #42 (Wingra), City of Madison.
Sponsors: Sue Ellingson
Attachments: 1. 9565 TID #42 Wingra Project Plan - REVISED.pdf, 2. 9565 TID 42 Wingra Project Plan.pdf, 3. 9565 TID 42 (2.0) Revised_ Final Report_033012.pdf, 4. 9565 TID 42 (2.0) Revised_Appendix A.pdf, 5. Wingra Clinic TIF Report 12-13-11.pdf, 6. Ellingson comments_05-21-12.pdf
Fiscal Note
See Economic Feasibility Section of the Project Plan.
Title
Approving the Creation of and the Project Plan and Boundary 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 create a Tax Incremental District and approve a Project Plan and Boundary; and

WHEREAS Tax Incremental District (TID) #42 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 TID Project Plan and Boundary for TID #42 was published in the Wisconsin State Journal on May 4 and May 11, 2012 as required by said Law; and

WHEREAS a Notice of Public Hearing by the Plan Commission was mailed to all property owners within the proposed TID #42 Boundary on May 2, 2012 in conformance to TIF 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 TID #42 Boundary; and

WHEREAS the Plan Commission of the City of Madison held a public hearing on May 21, 2012, at which interested parties were afforded an opportunity to express their views on the proposed creation of the Project Plan and Boundary 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 project costs as described in the amended Project Pl...

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