CCR2007031.
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COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION #031-2007
AUTHORIZE FINAL DISTRIBUTION OF
TAX INCREMENTAL DISTRICTS #3, #4, #5, #6 AND #7 FUNDS
WHEREAS, In 1979, the City created Tax Incremental Districts #3, 4, 5, 6 and 7; and
WHEREAS, In 1993, the Common Council dissolved Tax Incremental District #3; and
WHEREAS, In 1997, the Common Council dissolved Tax Incremental Districts #4 and
#6; and
WHEREAS, In 1998, the Common Council dissolved Tax Incremental District #7; and
WHEREAS, In 2003, the Common Council dissolved Tax Incremental District #5; and
WHEREAS, The accountants for the City have determined that there is a surplus of
$2,289,624 available as a final distribution to the taxing entities affected by the Tax
Incremental District; and
WHEREAS, Under this final distribution, amounts will be distributed to the taxing
entities as follows:
TIF#3 TIF#4 TIF#5
Muskego/Norway School District $283,972 $318,346 $254,073
Waukesha County 52,102 54,930 52,812
VTAE 23,091 27,466 32,224
City of Muskego 82,659 82,544 135,436
Total $441,824 $483,286 $474,545
TIF#6 TIF#7 TOTAL
Muskego/Norway School District $227,622 $311,746 $1,395,759
Waukesha County 37,828 72,396 270,068
VTAE 18,637 36,046 137,464
City of Muskego 57,868 127,826 486,333
Total $341,955 $548,014 $2,289,624
WHEREAS, The 2005 audit of Tax Incremental Districts #3, #4, #5, #6 and #7 has
been completed; and
WHEREAS, The Finance Committee has recommended approval of said final
distribution.
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Reso. #031-2007 Page
NOW, THEREFORE, BE IT RESOLVED That the Common Council of the City of
Muskego, upon the recommendation of the Finance Committee, does hereby authorize
and direct the Finance Department Supervisor to submit to the taxing entities the final
distribution as described.
DATED THIS 13th DAY OF February ,2007.
SPONSORED BY:
FINANCE COMMITTEE
Ald. Nancy Salentine
Ald. Eileen Madden
Ald. Neil Borgman
This is to certify that this is a true and accurate copy of Resolution #031-2007 which
was adopted by the Common Council of the City of Muskego.
2/07sm