Sponsor
Alderman Helding
Title
A RESOLUTION AMENDING, DESCRIBING AND MAKING CERTAIN FINDINGS FOR APPROVING A PROJECT PLAN AMENDMENT AND AMENDED BOUNDARIES FOR TAX INCREMENTAL DISTRICT NO. 10, CITY OF RACINE, WISCONSIN
WHEREAS, Tax Incremental District No. 10 (the “District”) was created by the City of Racine (the “City”) on April 13, 2003 as an industrial district; and
WHEREAS, in order to further the goals contained in the original Project Plan for the District, the City now finds it desirable to amend the District’s boundaries to add additional property for the benefit of the taxpayers of the overlapping jurisdictions, and to amend the Project Plan to update and provide for the undertaking of additional expenditures; 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 to the Project Plan and boundaries of the District, 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 approved the amendment to the boundaries of the District and recomm...
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