Sponsor
Alderman Wisneski
Title
RESOLUTION CREATING TAX INCREMENTAL DISTRICT NO. 17, ESTABLISHING ITS BOUNDARIES AND APPROVING ITS PROJECT PLAN
WHEREAS, the City of Racine (the “City”) has determined that use of Tax Incremental Financing is required to promote redevelopment within the City; and
WHEREAS, Tax Incremental District No. 17 (the “District”) is proposed to be created by the City as a rehabilitation-conservation district in accordance with the provisions of Section 66.1105 of the Wisconsin Statutes (the "Tax Increment Law"); and
WHEREAS, the Plan Commission has prepared a Project Plan for the District that 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 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, prior to its publication, a copy of the notice of public hearing was sent to owners of all property in the proposed district, to the chief executive officers of Racine County, the Racine Unified School District, the Gateway Te...
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