Title
RESOLUTION APPROVING AN EXPANSION OF THE USE OF THE “1/2 MILE RULE” FOR TID #43
(Park / Drake)
Body
WHEREAS, the City of Madison has plans to expend up to $3,000,000 for the implementation of a Small Cap TIF program in TID #43, and;
WHEREAS, the City desires to add two additional blocks to the already approved ½ Mile expenditure area (shown on the attached map); and
WHEREAS, the Joint Review Board held an organizational meeting on May 18, 2016 to review the record for the draft project plan described; and
WHEREAS, the Joint Review Board met on July 12, 2016 to take action on the described additional ½ Mile expenditure area;
NOW, THEREORE BE IT RESOLVED, that the Tax Increment Finance District Joint Review Board for TID #43 hereby approves the additional expenditure area be added to the already approved use of up to $3,000,000 for the implementation of a Small Cap TIF program within ½ Mile of TID #43.