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Wauwatosa panel forwards TIF term sheet for 204‑unit Research Park project to council after debate
Summary
The Financial Affairs Committee voted 6–1 to forward a tax‑increment financing term sheet for a proposed 204‑unit, market‑rate multifamily project in the Research Park to the Common Council after developer presentations and public questioning about parking, occupancy and use of TIF funds. The developer pledged $222,000 to the city’s affordable‑housing fund.
Wauwatosa — The city’s Financial Affairs Committee voted 6–1 Feb. 10 to forward a tax‑increment financing (TIF) term sheet for a proposed 204‑unit multifamily development at Mayfair Road and Wisconsin Avenue to the Common Council.
The item, introduced by city staff, requested pay‑as‑you‑go TIF assistance to help bridge financing gaps on a roughly $60 million project in the Research Park. City staff said a Robert Baird feasibility analysis supported the request and that the developer agreed to contribute $222,000 to Wauwatosa’s affordable‑housing fund.
“The project addresses the demonstrated market need for quality rental housing in a challenging development environment,” Alder Phillips said when she moved the committee’s…
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