WAUKESHA — A
proposed tax incremental financing district that sparked a
lengthy debate at the Waukesha Common Council earlier this month
could be finalized by the city’s Joint Review Board next week.
will discuss the formation of TIF No. 25 — an industrial
district highlighted by the former AMF Bowling Center building
at 901 Northview Road — on Tuesday.
Chicago-based developer HSA Commercial has proposed razing that
building, clearing the site and replacing it with a
214,000-squarefoot industrial building.
items are listed on the board’s agenda — a review of public
record, planning documents and resolutions for creating the TIF,
and a discussion about the boundaries for the project plan.
Council ultimately voted 9-5 for the project following a long
debate earlier this month.
intends to offer the developer incentives structured as a
$1,150,000 grant paid during the facility’s construction and as
a “pay as you go” grant, meaning that as increment is realized
in the district, reimbursement will be made to the developer up
grant payouts will also be dependent on the number and salaries
of the jobs at the site.
the district would include: demolition of an existing shuttered
bowling facility; city-required architectural upgrades and site
preparation; environmental testing; storm sewer upgrades on
site; and land acquisition.
council meeting earlier this month, some aldermen raised
concerns about the “slippery slope” related to the continued use
of public funds to help grow private businesses.
President Andy Reiland said the project ultimately comes down to
being competitive in bringing in outside businesses.
“This TIF is
allowing us to be competitive, bring in this developer, other
developers, so that we don’t look at that building being vacant
for the next 10 years,” he said during the meeting.
“We can sit
here ... and we play the card and say there is going to be
another developer down the road. And then we sit here 10 years
down the road and we’ve lost a couple million dollars,
potentially, while the building sits and continues to
create 26 new jobs over the next 15 years to realize 100 percent
of the grant reimbursement. The developer would be eligible for
smaller percentages of the funds if it cannot reach that goal.
job creation numbers would be reviewed by the city on an annual
As is, the
property has an assessed value close to $5 million, but with the
creation of the TIF district, HSA has guaranteed the land will
reach an assessed value of $12.5 million by 2018, or the
developer will be forced to pay taxes to cover the difference.
value is attained, it means taxes paid to the city would
increase by $217,000 each year.
Review Board is comprised of taxing entities affected by the TIF,
including the Waukesha School District, Waukesha County
Technical College and one citizen member.
will begin at 7:30 p.m. Tuesday in room 207 of Waukesha City
Hall, 201 Delafield St.