CEDARBURG — One
more step remains before the Arrabelle apartment project receives
the go-ahead from the city of Cedarburg after Monday night’s
approval by the Common Council.
The vote series,
which occurred after a closed session of about an hour and 15
minutes, approved the planned unit development agreement and tax
incremental financing agreement with Arrabelle developer HSI
Properties, among other related items.
on Hamilton Road and Washington Avenue consists of 69 apartments in
two buildings, nine townhomes and a single-family lot.
resolutions passed 6-1, with council member Dick Dieffenbach casting
the dissenting vote for all. The only unanimously approved measure
was the certified survey map for the property.
“It’s still a
big chunk of money,” Dieffenbach said. “I find it hard to believe
that a project like this needs a big chunk of money at the last
The approved TIF
means the city will spend a total of $1.981 million on the district,
$1.925 million in developer incentive payments and $56,500 in
administrative expenses. In return, the investment will create $8.4
million in land value and improvements for the city.
the developer’s agreement include:
A timetable for performance and completion of improvements,
including a start date of July 31, 2019, and a project completion
date of Dec. 31, 2019
Required public improvements, including the creation of
a vision triangle in front of the church
A cross-parking easement with St. Francis Borgia Church.
few amendments were made to the original agreement during the closed
session. HSI Properties requested permission to pursue occupancy
once each building was completed, which will be allowed upon
successful inspections by the city’s building and fire inspectors
and the obtaining of an occupancy permit.
A change was
also made to the TIF agreement for a “clawback” provision should HSI
sell the property or cash-out refinance the property under certain
financial conditions. The clawback would automatically be triggered
and require the payback of funds to the city.
the Common Council approved an extension of HSI’s PUD agreement on
the same 6-1 vote.
does not have a building permit yet, and has been waiting to receive
approval on this project before obtaining one,” explained City
Planner John Censky, who noted it would be expiring before the
likely start of the project.
municipal step in the Arrabelle project is the approval of the
measure by the city’s Joint Review Board, which is scheduled for
<<EARLIER: Arrabelle project plans get green light