City of Madison, Wisconsin | Legislative Information Center
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File #: 63899    Version: 1 Name: 11893 TID 36 Project Plan Amendment
Type: Resolution Status: Passed
File created: 1/26/2021 In control: Economic Development Division
On agenda: 3/16/2021 Final action: 3/16/2021
Enactment date: 3/22/2021 Enactment #: RES-21-00202
Title: Approving the Amendment to the Project Plan for Tax Incremental District (TID) 36 (Capitol Gateway), City of Madison.
Sponsors: Patrick W. Heck, Marsha A. Rummel, Syed Abbas
Attachments: 1. 11893 TID 36 Project Plan Amendment 2021.pdf, 2. Pensack_Comments_02-21-21.pdf
Fiscal Note
The proposed resolution authorizes a Third Project Plan Amendment for Tax Incremental District (TID) 36 (Capitol Gateway). This amendment highlights two projects, $7 million for the Public Market and $5 million for developer loans, which were included in the 2020 and 2019 Adopted Capital Budgets, respectively. No additional City appropriation is required with the adoption of this resolution.
Title
Approving the Amendment to the Project Plan for Tax Incremental District (TID) 36 (Capitol Gateway), 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) 36 has not changed and is legally 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 amendment to the TID Project Plan for TID 36 was published in the Wisconsin State Journal on February 5, 2021 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 amended boundary of TID 36; and

WHEREAS the Plan Commission of the City of Madison held a public hearing on February 22, 2021, at which interested parties were afforded an opportunity to express their views on the proposed amendment to the Project Plan for TID 36; 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 significant...

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