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Council approves Riverbend amendment letting Hendricks sell building without transferring TID backstop
2250843 · February 4, 2025
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Summary
The West Bend Common Council approved a third amendment to the Riverbend pre-development agreement that lets Hendricks Group sell a building while retaining responsibility for potential TID shortfalls.
The Common Council on Feb. 3 approved a third amendment to the Riverbend pre-development agreement with Hendricks and Riverbend LLC that allows sale of a building while keeping the original developer’s obligation to cover potential tax-increment financing (TID) shortfalls with Hendricks and Riverbend.
Ian (city staff) described the amendment as a change to the existing…
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