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Waukesha council approves TIF term sheet to aid Mandel redevelopment
Summary
The Waukesha Common Council approved a term sheet providing targeted tax-increment financing (TIF) assistance and an upfront payment to developer Mandel for a two‑building, roughly $43 million residential project at 1320–1328 Delafield Street.
Waukesha — The Common Council on April 3 approved a term sheet that would provide the Mandel Group with a $6,000,000 upfront payment and up to $5,359,220 in PAYGO (pay-as-you-go) TIF assistance to support construction of two apartment buildings on city-owned property at Delafield Street.
The approval, moved by Alderman Owen Piper and seconded by Alderman Bartels, came after a staff presentation describing the city’s long-running effort to redevelop the site and an analysis by municipal financial adviser Ehlers. Jennifer (community development staff) told the council the city purchased the site in 2018 for $550,000 and has pursued redevelopment through a competitive RFP process; Mandel’s current proposal represents…
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