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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 80% of the incremental growth under the agreement. Paltan also said the project includes installation of a private drive connecting the corporate campus to Fond du Lac Avenue once a staffing threshold is met.
“The development agreement provides an MRO equal to 80% of the TID 19 increment,” Trustee Paltan said during the presentation. He described a plan that will remodel a 164,000‑square‑foot existing building and build new structures across four phases, with the parcel and phasing intended for commercial office and industrial uses.
The related amendment to TID 10 clarifies Milwaukee Tool’s role, moves two parcels into TID 19 and removes a village obligation to build a public extension of Flint Drive; instead the developer will construct a private drive for employee and visitor access. Under terms recited in the meeting record, the developer will prepay $140,000 remaining under a prior sponsorship and naming‑rights agreement as a condition of the amended development agreement.
Trustees noted the modifications were unanimously recommended by the General Government Committee and had no additional board opposition; both measures passed by voice vote.
The meeting record includes square‑footage and phasing details but the dollar amount for projected incremental value reported in the oral presentation was unclear in the transcript; the board clerk’s official documentation should be consulted for the precise projected tax‑increment figure. No further conditions were recorded on the floor other than the sponsorship prepayment requirement.
Both approvals move forward a redevelopment project the village described as supporting commercial and industrial uses and private‑drive access tied to employment thresholds. The board approved both resolutions unanimously.
