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Board approves amended TID deals to support large redevelopment; developer to prepay naming sponsorship
Summary
Trustee Paltan moved and the board unanimously approved a TID 19 development agreement to remodel a 164,000‑sq. ft. building and add phased construction up to 750,000 sq. ft. by 2038; the amendment to TID 10 moves parcels into TID 19, converts a planned public road into a private drive and requires a $140,000 sponsorship prepayment.
The Menomonee Falls Village Board on Monday approved two linked tax incremental district (TID) resolutions to support a major redevelopment project that will remodel an existing 164,000‑square‑foot building into a research and development facility and allow phased construction totaling up to 750,000 square feet by 2038.
Trustee Paltan, who introduced both measures, said the TID 19 development agreement provides a reimbursement mechanism (an MRO) equal to 80% of the TID 19 increment generated by the project; the developer will continue to pay full taxes and the village will reimburse…
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