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Plan Commission forwards amendments to four tax incremental financing districts to council
Summary
The Madison Plan Commission voted unanimously to recommend city council approval of sixth amendments to four tax incremental financing (TIF) project plans — TID 36, 44, 46 and 51 — after staff described the statutory tests and the Joint Review Board review process and one resident raised concerns about a grant match for Bree Stevens Field.
The Madison Plan Commission on Feb. 17 recommended that the Common Council approve amendments to four tax incremental financing project plans — TID 36 (Capital Gateway), TID 44 (Royster Clark area), TID 46 (Research Park) and TID 51 (South Madison) — forwarding each item with unanimous votes.
Plan Commission staff gave an overview of the commission’s role in creating and amending TIF districts under Wisconsin statutes and summarized the amendments. Economic development staffer Dan said the commission’s role is to hold a public hearing and determine whether a district or amendment meets statutory criteria, including whether a district is a “blighted area,” whether improvements are likely to increase other property values, and whether the city remains below the…
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