City of Madison - File #: 78314

• File #: 78314
• Version: 1
• Name: 12715 - TID 54 (Pennsylvania Ave) Creation
• Type: Resolution
• Status: Passed
• File created: 6/9/2023
• In control: Economic Development Division
• On agenda: 7/25/2023
• Final action: 7/25/2023
• Enactment date: 7/28/2023
• Enactment #: RES-23-00507
• Title: Approving the Creation of the Project Plan and Boundary and use of the Half Mile Rule for Tax Incremental District (TID) #54 (Pennsylvania Ave), City of Madison.
• Sponsors: Amani Latimer Burris
• Related files: 82847, 83174

Date	Ver.	Action By	Action	Result
7/25/2023	1	COMMON COUNCIL	Adopt Unanimously	Pass
7/17/2023	1	FINANCE COMMITTEE	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
6/26/2023	1	PLAN COMMISSION	Return to Lead with the Recommendation for Approval	Pass
6/20/2023	1	FINANCE COMMITTEE	Referred
6/20/2023	1	COMMON COUNCIL	Referred
6/12/2023	1	Economic Development Division	Referred for Introduction

Fiscal Note
No additional City appropriation is required with the approval of the project plan and boundary for Tax Incremental District (TID) #54 (Pennsylvania Ave). Additional city costs associated with urban development in this area will be included in future operating and capital budgets subject to Common Council approval.
Title
Approving the Creation of the Project Plan and Boundary and use of the Half Mile Rule for Tax Incremental District (TID) #54 (Pennsylvania Ave), 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 create a Tax Incremental Project Plan and Boundary; 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 54 was published in the Wisconsin State Journal on June 9 and June 16, 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 54; and

WHEREAS the Plan Commission of the City of Madison held a public hearing on June 26, 2023, at which interested parties were afforded an opportunity to express their views on the proposed creation of the Project Plan and Boundary for TID 54; 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 ...