Fiscal Note
The proposed project plan amendment provides funding for the Retail Improvement Grant program. Under the program, property owners can seek grant funding for up to 50% of the total project cost (up to $50,000) for interior and exterior improvements. Total funding for the program is $400,000.
Title
Approving an Amendment to the Project Plan for Tax Incremental District (TID) #32 (Upper State St), 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 amend a Tax Incremental District Project Plan; and
WHEREAS the boundary of Tax Incremental District (TID) #32 is described below without change from the third Project Plan and Boundary Amendment; and
WHEREAS a Notice of Public Hearing by the Plan Commission to afford interested parties an opportunity to express their views on the amendment to the TID Project Plan for TID #32 was published in the Wisconsin State Journal on November 20 and November 27, 2015 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 TID #32 Boundary; and
WHEREAS the Plan Commission of the City of Madison held a public hearing on December 7, 2015, at which interested parties were afforded an opportunity to express their views on the proposed amendment to the Project Plan for TID #32; and
WHEREAS the Plan Commission has, as indicated in the attached report, found that the amended plan is feasible and in conformity with the Comprehensive Plan for the City of Madison; and
WHEREAS the Plan Commission has determined that the TID meets the basic requirements of City TIF Policy for tax incremental district proposals adopted by the ...
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