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CDA recommends Jay Jeffers for Weinbrenner Building redevelopment; council approves selection
Summary
A staff working group and the Community Development Authority recommended Jay Jeffers to redevelop the Weinbrenner Building at West Third Street; council approved the selection after presentations comparing candidates.
The Common Council approved the Community Development Authority’s recommendation to select Jay Jeffers as the developer to work with the city on redeveloping the Weinbrenner Building at 305 West Third Street.
Ashley Winch, who presented the CDA’s review, said the selection committee found two finalists with significant experience; the committee recommended Jay Jeffers for the project and the CDA held a special meeting to approve the recommendation. "Our committee agreed on the recommendation for Jay Jeffers as a representative of the CDA," Winch said.
Winch summarized that the top-ranked candidate had experience securing financing, adaptive reuse of historic buildings, and willingness to include a family-affordable housing component along with limited market-rate units and possible nonresidential/community spaces. The committee also cited the candidate’s Wisconsin base and demonstrated history with state grant and tax-credit programs, including low-income housing tax credits and historic-preservation credits that committee members said are likely needed to make redevelopment financially feasible in this market.
Council members asked about alignment between financing tools and local housing needs; Winch said the family-affordable component responded to local demand and that most finalists expected to rely on low-income housing tax credits and historic-preservation incentives in the project structure. Following discussion, the council approved the selection (motion by Alderman Tompkins; second by Alderman Varsho).
