Resolution approving the dissolution of Tax Incremental District Number Seven (Summit Place) of the City of West Allis.

This resolution formally dissolves Tax Incremental District Number Seven (Summit Place) of the City of West Allis. The district was created in February 2004 under Resolution No. R-2004-0037. All projects within TID Number Seven have been completed within the allowed 27-year timeframe. Sufficient tax increments have been collected as of the 2025 tax roll (payable in 2026) to cover all project costs. A related resolution on February 10, 2026, approved an Affordable Housing Extension and established an Affordable Housing Fund with accrued increment, enabling the TID's closure. The City will notify the Wisconsin Department of Revenue of the dissolution before April 15, 2026, and will provide final audited information. Any excess increment collected, after covering ongoing expenses, will be distributed to the affected taxing districts.