CCR2003032.
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COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION #032-2003
AUTHORIZE 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
$1,946,354 available as a partial distribution to the taxing entities affected by the Tax
Incremental District; and
WHEREAS, Under this partial distribution, amounts will be distributed to the taxing
entities as follows:
TIF#3 TIF#4 TIF#5
Muskego/Norway School District $188,026 $231,409 $214,336
Waukesha County 32,557 43,429 47,581
VTAE 14,684 21,672 28,653
City of Muskego 49.319 66.908 109.609
Total $284,586 $363,418 $400,179
TIF#6 TIF#7 TOTAL
Muskego/Norway School District $260,945 $284,450 $1,179,166
Waukesha County 44,922 66,050 234,539
VTAE 22,371 32,900 120,280
City of Muskego 69.933 116.600 412.369
Total $398,171 $500,000 $1,946,354
WHEREAS, The final audit of Tax Incremental Districts #3, #4, #5, #6 and #7 has not
been completed; therefore, a further distribution is anticipated at a later date; and
WHEREAS, The Finance Committee has recommended approval of said partial
distribution.
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Reso. #032-2003
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 Director to submit to the taxing entities the partial distribution as
described.
DATED THIS 11th DAY OF Februarv ,2003.
SPONSORED BY:
FINANCE COMMITTEE
Ald. Rick Petfalski
Ald. Patrick Patterson
Ald. Nancy C. Salentine
This is to certify that this is a true and accurate copy of Resolution #032-2003 which
was adopted by the Common Council of the City of Muskego.
~K )r7~ ~- Treasurer
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