Project plan

12461 TID 36 Modification of the project plan 2022 | Legal announcements

NOTICE OF MEETING OF THE JOINT REVIEW BOARD FOR A PROPOSED PROJECT PLAN AMENDMENT FOR TAX INCREMENTAL FUNDING DISTRICT NO. 36 (CAPITOL GATEWAY) CITY OF MADISON Pursuant to Wisconsin Statute 66.1105, Tax Incremental Law, the City of Madison Joint Review Board will hold a virtual meeting on June 1, 2022 at noon, via Virtual Project Plan Amendment Meeting for Tax Incremental Finance District #36 (Capitol Walkway). A copy of the TID boundary map and parcel numbers will be provided upon request to the Economic Development Division by mail to the following address: Department of Community and Economic Planning and Development Economic Development Division PO Box 2983 Madison , WI 53701-2983 Or by email at: [email protected] *Note: This Joint Review Panel meeting will be a virtual meeting, with instructions for watching, listening and participating noted on the agenda available on the Clerk’s Office website: https://www.cityofmadison.com/clerk/meeting-schedule *Note: Some or all members of the Joint Review Panel, or members of the public , can participate in the meeting remotely by teleconference or videoconference. To listen to the meeting: You can call the Joint Review Panel (TIF Review Panel) meeting: Listen to audio by phone: (877) 853-5257 (toll-free) Meeting ID: 876 1871 8299 If the quorum cannot be reached on the day of the meeting, the Board cannot meet. If you have any questions or would like to request a copy of the proposed project plan, please email [email protected] If you need an interpreter or accommodation, please contact the Department at 266-4635. The purpose of this project plan amendment is to provide funding for the reconstruction of the Blair Street intersection ($1,222,000), reimburse the City for costs associated with the Livingston Street parking structure /Cosmos ($4,000,000 for construction costs and $1,000,000 for site acquisition), and to donate funds to TID 42 for a new redevelopment in South Madison ($4,000,000). The City is also seeking reimbursement of a grant to the Starting Block project ($1,500,000) which, if approved, will constitute a TIF grant. A copy of the Development Agreement for the Starting Block Project will be provided upon approval of this amendment, but may also be obtained by emailing the TIF Review Board (Joint Review Board) at: [email protected] com In addition, the project plan reallocates costs that were previously allocated to Public/Private/Non-profit Partnerships. These public/private/not-for-profit partnerships did not occur and result in a savings of (-$5,000,000) in the proposed change to the project plan. The total estimated cost of the proposed modification to the 2022 Project Plan, net of (-$5,000,000) reallocated funds, is $5,222,000. General Description of the TID Area The TID is generally located in the East Washington Ave area, between First St and Blair St, in Madison WI. Published Wisconsin State Journal: May 20, 2022 WSJ: May 20, 2022 108079 WNAXLP