Monona backs WEDC grant application for Northpointe redevelopment including 55 age‑restricted LIHTC units
Summary
The committee approved a resolution to submit an application to the Wisconsin Economic Development Corporation for an idle sites redevelopment grant (up to $250,000) for a Northpointe second phase site on East Gorway; staff said no city match is required and the grant would pass through to the developer if awarded. Staff and council will work with WEDC and city attorney on a required development agreement.
The Monona Finance and Personnel Committee voted Jan. 5 to authorize the city to apply to the Wisconsin Economic Development Corporation (WEDC) for an idle sites redevelopment grant to support the second phase of the Northpointe development.
Director Plowman described the program and the proposal: WEDC offers grants up to $250,000 for redevelopment plans of large commercial or industrial sites that have been vacant or underutilized for at least two years. The property under consideration is on East Gorway and is proposed as phase two of the Northpointe development. Plowman said the plan includes 55 age‑restricted low‑income housing tax credit units in one‑ and two‑bedroom configurations.
Plowman said the city’s role would be to submit the application; there is no financial match required from the city and, if awarded, the grant would be awarded to the city and passed through to the developer to assist development costs. "We'll certainly be joined by them at the council meeting as well, and they're planning to attend," Plowman said.
A committee member noted WEDC eligibility materials call for a draft development agreement describing the project. Plowman said staff is working with WEDC and the city attorney to identify what the required agreement should contain given there is not a TIF award tied to this site.
The committee moved, seconded and approved the resolution by voice vote. Staff will include the corrected resolution in the Jan. 20 council packet for final council action and to continue coordination with WEDC and the developer.
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