Town of Brookfield board approves TIF resolution

Special to The Freeman

March 14, 2014

TOWN OF BROOKFIELD The Joint Review Board approved Thursday a resolution creating a tax incremental financing district for The Corners project.

Town Administrator Rick Czopp said it was approved unanimously by the board.

Planned for near the intersection of Bluemound and Barker roads, The Corners is being developed by Marcus Corporation. It will include retail, office and residential use and will be anchored by high-end department store Von Maur.

The finished project will generate more than $150 million in new tax base and provide an estimated 380 retail jobs and 325 construction jobs, as well as up to 150 new residential rental units, according to the project plan. Von Maur alone is anticipated to create 110 full-time jobs and 40 part-time jobs, with an annual estimated payroll of $3 million, according to a report prepared for the town.