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 ...
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