Fiscal Note
The proposed resolution authorizes a Project Plan Amendment for Tax Incremental District (TID) #37 (Union Corners). This amendment authorizes $18M of total donations to TID #51 (South Madison) over a five-year period. Under the revised project plan, the total TIF-supported costs are $38.9M. 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) #37 (Union Corners), City of Madison.
Body
WHEREAS Chapter 105 of the Laws of 1975 of the State of Wisconsin created the Tax Increment Law (the “TIF Law”), Section 66.1105, Wisconsin Statutes; and
WHEREAS TIF Law sets forth certain steps which must be followed to amend a Tax Incremental Project Plan; 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 37 was published in the Wisconsin State Journal on February 3, 2023 as required by 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 boundary of TID 37; and
WHEREAS the Plan Commission of the City of Madison held a public hearing on February 13, 2023, at which interested parties were afforded an opportunity to express their views on the proposed amendment to the Project Plan for TID 37; 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 aggregate value of equalized taxable property of the TID, plus all existing TIDs, does not exceed 12% of the total value of equalized taxable property within the City.
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 Common Council on April 17, 2001, amended on March 31, 2009, and amended again on February 25, 2014 (insofar as they are applicable to the amendment of a project plan), conforms to the Comprehensive Plan for the City of Madison and is consistent with the review criteria adopted at the same time, specifically, that the TID supports economic development activities intended to stabilize and diversify the City’s economic base.
NOW THEREFORE BE IT RESOLVED that the Common Council of the City of Madison hereby confirms and adopts the above recitals and finds that:
1. No less than 50%, by area, of the real property within the TID boundary is blighted within the meaning of Section 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 aggregate value of equalized taxable property of the TID, plus all existing TIDs, does not exceed 12% of the total value of equalized taxable property within the City.
4. The project costs relate directly to eliminating blight.
5. TID 37 (Union Corners) is hereby declared a blighted area district.
6. The percentage of territory devoted to retail businesses within TID 37 (Union Corners) is under thirty-five (35%) percent.
7. TID 37 (Union Corners), the Donor TID, and TID 51 (South Madison), the Recipient TID, have the same overlying taxing jurisdictions.
8. TID 37 (Union Corners) has sufficient revenue to pay for all current costs.
9. TID 37 (Union Corners) has sufficient surplus tax increments to donate $18,000,000 to TID 51 (South Madison), the Recipient TID.
10. The Recipient TID, TID 51 (South Madison) is a blighted area TIDs as defined in State Statute 66.1105(6)(f)2.
11. The boundaries of TID 37 (Union Corners) are not changing.
BE IT STILL FURTHER RESOLVED that the attached amended Project Plan for TID 37 (Union Corners), City of Madison, is hereby adopted as of January 1, 2023 as the Project Plan for said District and such plan is feasible and in conformity with the Comprehensive Plan for the City of Madison and will add to the sound growth of the City.
LEGAL DESCRIPTION
A parcel of land located in the NW ¼ and the SW ¼ of the SE ¼, the NW ¼, NE ¼, SE ¼, and SW ¼ of the SW ¼, Section 5, and located in the SE ¼ and the SW ¼ of the NE ¼, and the NW ¼, the NE ¼, and the SW ¼ of the SE ¼, and the SE ¼ of the SW ¼, Section 6, and located in the NW ¼ of the NE ¼, and the NE ¼ of the NW ¼, Section 7, all in T7N, R10E of the Fourth Principal Meridian, City of Madison, Dane County, Wisconsin, described as follows:
Beginning at the intersection of the Northwesterly right of way of Winnebago Street and the Southwesterly right of way of South Fifth Street; thence along said southwesterly right of way, northwesterly to the intersection of said southwesterly right of way and the southeasterly right of way of East Washington Avenue; thence across said East Washington Avenue, northwesterly to the southerly corner of Lot 22 of Block 8, Washington Park (said point also being on the northwesterly right of way of East Washington Avenue); thence along said northwesterly right of way, northeasterly to the intersection of said northwesterly right of way and the southwesterly right of way of North Seventh Street; thence along said southwesterly right of way, northwesterly to the northerly corner of Lot 12 of Block 1, Girstenbreis Plat; thence across North Seventh Street, northeasterly to the westerly corner of Lot 5 of Block 2, Girstenbreis Plat; thence along the northwesterly line of said Lot 5, northeasterly to the northerly corner of said Lot 5; thence along the northeasterly line of said Lot 5, southeasterly to the southerly corner of Lot 10 of O’Neil Replat of Block 3 of Curtis Replat; thence along the southeasterly line of said Lot 10, northeasterly to the easterly corner of said Lot 10 (said point also being on the westerly right of way of North Street); thence across said North Street, northerly to the southerly corner of Lot 6 of Block 4, Curtis Replat; thence along the southeasterly line of said Lot 6, northeasterly to the easterly corner of said Lot 6, thence along the northeasterly line of said Lot 6, northwesterly to the northerly corner of said Lot 6 (said point also being on a southeasterly line of Lot 2 of Certified Survey Map No. 8725); thence along said southeasterly line, southwesterly to a southerly corner of said Lot 2; thence along a southwesterly line of said Lot 2, northwesterly to a northwesterly corner of said Lot 2; thence along the northwesterly line and the northerly line of said Lot 2, northeasterly and easterly to a northerly corner of said Lot 2 (said point also being the westerly corner of that parcel of land whose tax parcel number is 071006121174); thence along the northwesterly line of said parcel, and along the northwesterly line of that parcel of land whose tax parcel number is 071006121182, northeasterly to the southerly right of way of East Dayton Street; thence along said southerly right of way, easterly to the intersection of said southerly right of way and the northwesterly right of way of East Washington Avenue; thence along said northwesterly right of way, southwesterly to the easterly most corner of said Lot 2 of Certified Survey Map No. 8725; thence across East Washington Avenue, southeasterly to the northwesterly corner of that parcel of land whose tax parcel number is 071006129011; thence along the northerly line of said parcel, easterly to the northeasterly corner of said land; thence along the southeasterly line of said parcel, southwesterly to the interior corner of said parcel; thence along the northeasterly line of said parcel, and along the northeasterly line of that parcel of land whose tax parcel is 071006129029, southeasterly to the northerly right of way of Union Street; thence across said Union Street, southwesterly to the northwesterly corner of that parcel of land whose tax parcel number is 071006130133; thence along the westerly line of said parcel, southerly to a southwesterly corner of said parcel; thence along the southerly line of said parcel, easterly to the northwesterly corner of that parcel of land whose tax parcel number is 071006130183; thence along the westerly line of said parcel, southerly to the northerly right of way of Milwaukee Street; thence across said Milwaukee Street, southeasterly to the northwesterly corner of that parcel of land whose tax parcel number is 071006134151; thence along the westerly line of said parcel, southerly to the southwesterly corner of said parcel (said point also being on the northerly line of Lot 3 of Block 1, Anzinger’s Replat; thence along said northerly line of Lot 3 of Block 2, westerly to the northwesterly corner of said Lot 3; thence along said westerly line of Block 1 of Anzinger’s Replat, southerly to the southwesterly corner of said Block 1; thence along the southerly line of said Block 1, and along the southerly right of way of Anzinger Court, easterly to the westerly line of Lot 7 of Block 1, Mrs. Alice M. Kingston’s Subdivision; thence along the westerly line of said Block 1 of Mrs. Alice M. Kingston’s Subdivision, southerly to the southwesterly corner of that parcel of land whose tax parcel number is 071006134036; thence along the southerly line of said parcel, easterly to the westerly right of way of Farwell Street; thence across said Farwell Street, easterly to the intersection of the easterly right of way of said Farwell Street and the southerly right of way of South Court; thence along said southerly right of way, easterly to the intersection of said southerly right of way and the westerly right of way of Corry Street; thence across said Corry Street, southeasterly to the northwesterly corner of Lot 21 of Block 4, Power’s Replat; thence along the northerly line of said Lot 21, easterly to the northeasterly corner of said Lot 21; thence along the easterly line of said Lot 21, southerly to the northwesterly corner of Lot 20 of Block 4, Power’s Replat; thence along the northerly line of said Lot 20, easterly to the westerly right of way of Waubesa Street; thence across said Waubesa Street, southeasterly to the intersection of the easterly right of way of said Waubesa Street and the northerly right of way of the City of Madison Isthmus Bike Path; thence along said northerly right of way, easterly to the westerly corner of that parcel of land whose tax parcel number is 071005223228; thence along the northerly line of said parcel of land, easterly to the westerly right of way of Marquette Street; thence across said Marquette Street, easterly to the southerly corner of Lot 205, Clyde A. Gallagher’s Subdivision of Part of Outlots 106, 107, and 108, Farwell’s Addition, said point also being on the northwesterly line of that parcel of land whose tax parcel number is 07100530534; thence along said northwesterly line, northeasterly to the northerly corner of said parcel; thence along the easterly line of said parcel, southerly to the southeasterly right of way of the Wisconsin Central Limited Rail Road; thence along said southeasterly right of way, northeasterly to the westerly line of Lot 1, Certified Survey Map No. 10238; thence along the southerly and the southwesterly lines of said Lot 1, easterly and southeasterly to the northwesterly right of way of Fair Oaks Avenue; thence along said northwesterly right of way, northeasterly to the intersection of said northwesterly right of way and the southerly right of way of Daley Drive; thence across Fair Oaks Avenue, southeasterly to the northwesterly corner of Lot 1, Certified Survey Map No. 2030; thence along the northerly, northeasterly, and easterly lines of said Lot 1, easterly, southeasterly, and southerly to the northeasterly right of way of the Union Pacific Rail Road; thence along said northeasterly right of way, southeasterly to the easterly corner of that parcel of land whose tax parcel number is 071005400941; thence along the southeasterly line of said parcel, and along the southeasterly line of that parcel of land whose tax parcel number is 071005400925, southwesterly to the southwesterly right of way of the City of Madison Isthmus Bike Path; thence along said southwesterly right of way, northwesterly to the easterly corner of Lot 28, Block 21, East Side Land Company Addition to Fair Oaks; thence along the easterly line of said Lot 28, southerly to the northeasterly corner of Lot 27, said Block 21; thence along the northerly and northwesterly lines of said Lot 27, westerly and southwesterly to the westerly line of said Lot 27; thence along the westerly lines of Lots 4 through said Lot 27, said Block 21, southerly to the southwesterly corner of said Lot 4; thence along the southerly line of said Lot 4, easterly to the westerly right of way of Marquette Street; thence along said westerly right of way, southerly to the intersection of said westerly right of way and the northerly right of way of Atwood Avenue; thence along said northerly right of way, westerly to the intersection of said northerly right of way and the easterly right of way of Waubesa Street; thence along said easterly right of way, northerly to the southwesterly corner of Lot 18, Block 21, East Side Land Company Addition to Fair Oaks; thence along the southerly line of said Lot 18, easterly to the southeasterly corner of said Lot 18; thence along the easterly lines of Lots 9 through said Lot 18, said Block 21, northerly to the northeasterly corner of said Lot 9; thence along the northerly line of said Lot 9, westerly to the easterly right of way of Waubesa Street; thence along said easterly right of way, northerly to the easterly elongation of the southerly line of Lot 31, Block 22, East Side Land Company Addition to Fair Oaks; thence along said easterly elongation, and along the southerly lines of Lots 31 and 2, Block 22, East Side Land Company Addition to Fair Oaks, westerly to the easterly right of way of Corry Street; thence across said Corry Street, in a perpendicular direction to the westerly right of way of said Corry Street, westerly to said westerly right of way; thence along said westerly right of way, northerly to the intersection of said westerly right of way and the northwesterly right of way of St Paul Avenue; thence along said northwesterly right of way, northeasterly to the intersection of said northwesterly right of way and the westerly right of way of Waubesa Street; thence along said westerly right of way, northerly to the southeasterly corner of Lot 13 of Block 17, Fair Oaks; thence along the southerly line of said Lot 13, westerly to the southwesterly corner of said Lot 13; thence along the westerly line of said Lot 13, and along the westerly lines of Lots 14, 15, 16, and 17 of said Block 17, northerly to an interior corner of that parcel of land whose tax parcel number is 071005302147; thence along a southerly line of said parcel, formerly the southerly right of way of the Union Pacific Rail Road, westerly to the intersection of the westerly right of way of Corey Street and the southerly right of way of the Union Pacific Rail Road; thence along said southerly right of way, and along the southeasterly right of way of said Union Pacific Rail Road right of way, along the arc of a curve to the left, westerly and southwesterly, to the intersection of said southeasterly right of way and the westerly right of way of Division Street; thence along said westerly right of way, southerly to the northeasterly corner of that parcel of land whose tax parcel number is 0710-06420188; thence along the northerly line of said parcel, westerly to the northwesterly corner of said parcel; thence along the westerly line of said parcel, southerly to the southwesterly corner of said parcel; thence along the easterly line of that parcel of land whose tax parcel number is 071006420047, southerly to the southeasterly corner of last said parcel; thence along the southwesterly line of said parcel, northwesterly to the intersection of the southeasterly right of way of La Follette Avenue and the southeasterly right of way of Winnebago Street; thence along said southeasterly right of way of Winnebago Street, southwesterly to the northerly corner of Lot 2 of Block 14, Ellsworth Subdivision; thence along the northeasterly line of said Lot 2, southeasterly to the easterly corner of said Lot 2; thence along the southeasterly line of said Lot 2, southwesterly to the southerly corner of said Lot 2; thence along the westerly line of that parcel of land whose tax parcel number is 071006414181; southerly to the northwesterly right of way of Atwood Avenue; thence across said Atwood Avenue, southwesterly to the intersection of the southeasterly right of way of said Atwood Avenue and the northeasterly right of way of Amoth Court; thence along said northeasterly right of way, southeasterly to the intersection of said northeasterly right of way and the northwesterly right of way of Eastwood Drive; thence across said Eastwood Drive in a perpendicular direction to the southeasterly right of way of said Eastwood Drive, southeasterly, to said southeasterly right of way; thence along said southeasterly right of way, southwesterly to southwesterly to the intersection of said southeasterly right of way and the southwesterly right of way of Russell Street; thence along said southwesterly right of way, southeasterly to the intersection of said southwesterly right of way and the southeasterly right of way of the City of Madison Isthmus Bike Path; thence along said southeasterly right of way, southwesterly to the intersection of said southeasterly right of way and the southeasterly right of way of Winnebago Street; thence along said southeasterly right of way of Winnebago Street, and along the southeasterly right of way of Williamson Street, southwesterly to the northerly corner of Lot 16, Cantwell’s Replat; thence across Williamson Street, northwesterly to the easterly corner of Lot 13, Block 227, City of Madison; thence along the northeasterly line of said Lot 13, northwesterly to the southeasterly right of way of the City of Madison Isthmus Bike Path; thence along said southeasterly right of way, northeasterly to the intersection of said southeasterly right of way and the southwesterly right of way of South Thornton Avenue; thence across said South Thornton Avenue, northerly to the intersection of the northerly right of way of said South Thornton Avenue and the southeasterly right of way of East Wilson Street; thence along said southeasterly right of way, northeasterly to the intersection of said southeasterly right of way and the southwesterly margin of the Yahara River; thence across said Yahara River, northeasterly to the intersection of the northeasterly margin of said Yahara River and the northwesterly right of way of the City of Madison Isthmus Bike Path; thence along said northwesterly right of way, northeasterly to the intersection of said northwesterly right of way and the northwesterly right of way of Winnebago Street; thence along said northwesterly right of way of Winnebago Street, northeasterly to the intersection of said northwesterly right of way and the southwesterly right of way of South First Street; thence along said southwesterly right of way, northwesterly to the intersection of said southwesterly right of way and the northwesterly right of way of East Main Street; thence across South First Street, northeasterly to the intersection of the northeasterly right of way of South First Street and the southeasterly right of way of East Main Street; thence along said southeasterly right of way, northeasterly to the intersection of said southeasterly right of way and the northwesterly right of way of the Union Pacific Rail Road; thence along said northwesterly right of way, northeasterly to the intersection of said northwesterly right of way and the southwesterly right of way of South Second Street; thence along said southwesterly right of way, northwesterly to intersection of said southwesterly right of way and the southeasterly right of way of East Main Street; thence across said South Second Street and across said East Main Street, northerly to the intersection of the northeasterly right of way of said South Second Street and the northwesterly right of way of said East Main Street; thence along said northwesterly right of way, northeasterly to the intersection of said northwesterly right of way and the southwesterly right of way of South Fourth Street; thence across said South Fourth Street, easterly to the intersection the northeasterly right of way of said South Fourth Street and the northwesterly right of way of the Union Pacific Rail Road; thence along said northwesterly right of way, northeasterly to the intersection of said northwesterly right of way and the northwesterly right of way of Winnebago Street; thence along said northwesterly right of way of Winnebago Street, northeasterly to the point of beginning.
Said Parcel of land includes those lands in Dane County that have the following tax parcel numbers:
|
071005224177 |
071006134234 |
071006416129 |
071006434197 |
|
071005224185 |
071006134250 |
071006416137 |
071006434211 |
|
071005302147 |
071006134268 |
071006416145 |
071006434220 |
|
071005302155 |
071006134276 |
071006416153 |
071006434238 |
|
071005302163 |
071006135034 |
071006416161 |
071006434246 |
|
071005305034 |
071006135050 |
071006416179 |
071006434254 |
|
071005305042 |
071006135068 |
071006416187 |
071006434262 |
|
071005305042 |
071006313086 |
071006416195 |
071006434270 |
|
071005305050 |
071006313143 |
071006420013 |
071006434288 |
|
071005307014 |
071006313151 |
071006420021 |
071006434296 |
|
071005307353 |
071006313200 |
071006420047 |
071006434303 |
|
071005307361 |
071006313218 |
071006420196 |
071006434329 |
|
071005308012 |
071006313226 |
071006421277 |
071006434337 |
|
071005343018 |
071006313234 |
071006421286 |
071006434353 |
|
071005344024 |
071006313242 |
071006421293 |
071006434361 |
|
071005344032 |
071006313284 |
071006421300 |
071006434379 |
|
071005344040 |
071006313309 |
071006421318 |
071007204250 |
|
071005400925 |
071006313317 |
071006421326 |
071007205034 |
|
071005400941 |
071006313325 |
071006421334 |
071007205042 |
|
071005400967 |
071006313333 |
071006421342 |
071007205050 |
|
071005400975 |
071006314018 |
071006421350 |
071007205068 |
|
071005400983 |
071006314026 |
071006421376 |
071007205076 |
|
071006120118 |
071006314042 |
071006421384 |
071007205092 |
|
071006120126 |
071006414149 |
071006421392 |
071007205109 |
|
071006120142 |
071006414157 |
071006421409 |
071007205117 |
|
071006120150 |
071006414165 |
071006422019 |
071007205125 |
|
071006120176 |
071006414173 |
071006422027 |
071007205133 |
|
071006121132 |
071006415014 |
071006422035 |
071007205141 |
|
071006121140 |
071006415022 |
071006422043 |
071007205159 |
|
071006121174 |
071006415030 |
071006422051 |
071007205167 |
|
071006121182 |
071006415048 |
071006422069 |
071007205175 |
|
071006129011 |
071006415056 |
071006422077 |
071007205183 |
|
071006129029 |
071006415064 |
071006422093 |
071007205191 |
|
071006130141 |
071006415072 |
071006422100 |
071007205208 |
|
071006130167 |
071006416012 |
071006422118 |
071007205216 |
|
071006130175 |
071006416038 |
071006422126 |
071007205224 |
|
071006133012 |
071006416054 |
071006422134 |
071007205274 |
|
071006133020 |
071006416062 |
071006422150 |
071007205282 |
|
071006133038 |
071006416070 |
071006422168 |
071007205414 |