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Cudahy Common Council approves TID amendment, escrow account and certified survey maps
Summary
At its March 15 meeting the Cudahy Common Council unanimously approved a Tax Incremental District No. 1 project-plan amendment, established an escrow account to assure distribution of expended funds and approved four certified survey maps; several measures were recorded as unanimous roll-call votes.
The Cudahy Common Council on March 15 approved a package of resolutions and administrative actions related to Tax Incremental District No. 1 and several property surveys, following presentations from the city’s financial advisors.
Greg Johnson and Mike Harrigan of Ehlers & Associates presented proposed changes to the TID project plan and described an escrow agreement intended to assure distribution of expended TID funds. After discussion, the council approved an escrow agreement and a related transfer-of-funds resolution tied to TID No. 1.
Council action on formal items included approval of an escrow agreement (motion by Alderperson Litkowiec, seconded by Alderperson Hollenbeck) and adoption of Resolution No. 7013, “Resolution Authorizing the Transfer of Funds and the Establishment of an Escrow Account with Respect to Tax Increment District No. 1” (moved by Alderperson Bartoshevich, seconded by Alderperson Litkowiec). Both motions passed on unanimous roll-call votes.
The council also adopted Resolution No. 7018, approving an amendment to the Project Plan for Tax Incremental District No. 1; that motion was moved by Alderperson Litkowiec and seconded by Alderperson Hollenbeck and carried unanimously. Council members said the presentations by Ehlers & Associates framed the financial and administrative rationale for the TID adjustments.
Separately, the council approved several routine property-related resolutions: Resolution No. 7014, honoring Police Chief Thomas Poellot for being named Law Enforcement Officer of the Year by the Wisconsin Department of Justice, and Resolutions No. 7015, 7016 and 7017, each approving certified survey maps for individual parcels (motions and roll-call approvals recorded in the meeting minutes).
All votes referenced in this article were recorded by roll call in the March 15, 2016 meeting minutes and were recorded as unanimous unless otherwise noted in the minutes.
The council adjourned at 8:10 p.m.; the minutes were later passed and approved on April 6, 2016.
