Sponsor
Alderman Helding
Title
A RESOLUTION AMENDING, DESCRIBING AND MAKING CERTAIN FINDINGS AND APPROVING PROJECT PLAN AMENDMENT FOR TAX INCREMENTAL DISTRICT NO. 15, CITY OF RACINE, WISCONSIN
WHEREAS, Tax Incremental District No.15 (the "District") was created by the City of Racine on August 15, 2006 as a rehabilitation District; and
WHEREAS, in order to promote additional development, the City is amending the District to include additional and/or updated costs estimates and projects that were above the amounts estimated and not included in the original plan; and
WHEREAS, the City desires to amend the District, in accordance with the provisions of Section 66.1105 of the Wisconsin Statutes (the "Tax Increment Law"), in order to provide a viable method of financing the costs of needed public improvements and other project costs within said District and thereby provide incentives and opportunities for appropriate private development, which will contribute to the overall development of the City; and
WHEREAS, in accordance with the procedures specified in the Tax Increment Law, the Plan Commission, on April 30, 2008, held a public hearing concerning the proposed amendment of the District and proposed Project Plan Amendment thereof in the City, wherein interested parties were afforded a reasonable opportunity to express their views; and
WHEREAS, prior to its publication, a copy of the notice of said hearing was sent to the chief executive officer of Racine County, the Racine School District, and the Gateway Technical College District, and the other entities having the power to levy taxes on property located within the District, in accordance with the procedures specified in the Tax Increment Law; and
WHEREAS, after said public hearing, the Plan Commission recommended to the City Council that it amend such District as specified in the Project Plan Amendment attached to this resolution as Exhibit A hereof, and entitled "Project Plan Amendment of Tax Incremental District No. 15, City of Racine, Wisconsin", and
WHEREAS, the Plan Commission has prepared and adopted a Project Plan Amendment to the District, (the "Amendment") which includes:
a. A Statement listing of the kind, number and location of all proposed public works or improvements within the District, or to the extent provided in Section 66.1105(2)(f)1., Wisconsin Statutes outside of the District;
b. An economic feasibility study;
c. A detailed list of estimated project costs;
d. A description of the methods of financing all estimated project costs and the time when such costs or monetary obligations related thereto are to be incurred;
e. Proposed changes of zoning ordinances, master plan, map, building codes and City ordinances;
f. A list of estimated non-project costs;
g. A statement of the proposed plan for relocating any displaced persons or businesses;
h. A statement of how the district promotes orderly development;
i. A map showing existing uses and conditions of real property in such District;
j. A map showing proposed improvements and uses therein;
k. An opinion of the City Attorney or of an Attorney retained by the City advising the plan is complete and complies with Wisconsin Statutes, Section 66.1105(4)(f); and
WHEREAS, the Plan Commission has submitted such Project Plan Amendment to the City Council and recommended approval thereof;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Racine as follows:
1. Pursuant to the Tax Increment Law, there is hereby amended in the City of Racine, as of January 1, 2008, a District known as "Tax Incremental District No. 15, City of Racine", the boundaries of which shall remain the same as in the original Project Plan.
2. The City Council hereby finds and declares that:
a. Based upon the findings, as stated in (a) above, the District remains declared as a rehabilitation District or conservation District within the meaning of Section 66.1337(2m)(b) of the Wisconsin Statutes based on the identification and classification of the property included within the District, furthermore any property standing vacant for seven years immediately preceding adoption of the resolution for this district will not comprise more than 25% of the area in the District in compliance with Section 66.11054gm(1) of the Statutes; and; and
b. The improvement of such area is likely to enhance significantly the value of substantially all of the other real property in the District; and
c. The project costs of the District, as amended, relate directly to eliminating blight and directly serve to rehabilitate or conserve the District consistent with the purpose for which the District is created.
BE IT FURTHER RESOLVED THAT the City Council of the City of Racine approves the Project Plan Amendment adopted by the Plan Commission, attached as Exhibit A, and finds that:
1. Such Amendment for the District in the City is feasible, and
2. Such Amendment is in conformity with the master plan of the City.
The City Clerk is hereby authorized and directed to notify the Wisconsin Department of Revenue, within 60 days of adoption of the amendment that this amendment has taken place, pursuant to the provisions of Section 66.1105(5)(cm) of the Wisconsin Statutes.
The City Assessor is hereby authorized and directed to make notations to the assessment roll under Section 70.45 of the Wisconsin Statutes, and the City Clerk is hereby authorized and directed to make similar notations on the tax roll made under Section 70.65 of the Wisconsin Statutes, pursuant to Section 66.1105(5)(f) of the Wisconsin Statutes.
Fiscal Note: The amendment revises the TID plan and budget to describe the role of the Redevelopment Authority in the project, particularly the purchase of the former Homeward Bound property by the Authority with funds advanced to the Authority by the Council pursuant to Resolution 07-0385, adopted on August 21, 2007. That resolution produced a project budget of $399,000. This amendment only reflects that change and does not further increase the budget.