Sponsor
Alderman Wiser
Title
Amendment of Project Plan for TID No. 10
WHEREAS, Tax Incremental District No. 10 (the “District”) in the City of Racine, Wisconsin (“City”) was created by the City on April 14, 2003 as an industrial district; and
WHEREAS, the City has initiated action to designate the District as distressed; and
WHEREAS, allocation of positive tax increments from Tax Incremental Districts Nos. 8 & 9 to the District would enhance the ability of the City to pay the District’s project costs; and
WHEREAS, the Plan Commission has prepared an amended Project Plan for the District (the “Amendment”) reflecting its distressed status and 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 Sections 66.1105(2)(f)1.k. and 66.1105(2)(f)1.n., 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 the related costs or monetary obligations are to be incurred;
e. A map showing existing uses and conditions of real property in the District;
f. A map showing proposed improvements and uses in the District;
g. Proposed changes of zoning ordinances, master plan, map, building codes and City ordinances;
h. A list of estimated non-project costs;
i. A statement of the proposed plan for relocation of any persons to be displaced;
j. A statement indicating how the Amendment of the district promotes the orderly development of the City;
k. An opinion of the City Attorney or of an attorney retained by the City advising that the plan is complete and complies with Section 66.1105(4)(f)., Wisconsin Statutes; and
WHEREAS, in accordance with the procedures specified in Section 66.1105, Wisconsin Statutes (the “Tax Increment Law”), prior to its publication, a copy of the notice of public hearin...
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