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Middleton staff recommends denying TIF aid for proposed Electron/Lacrone mixed-use project; committee defers action
Summary
City staff told the finance and personnel committee it recommends denying tax-increment-financing (TIF) assistance for a proposed mixed-use development on the grounds the site already lies within TIF District 5, may not meet statutory or policy eligibility, and targets 80% AMI units rather than the city's historical 60% AMI threshold. The committee deferred final action to await planning commission review.
City staff recommended against providing tax-increment-financing assistance for a proposed mixed-use development known in materials as the Electron/Lacrone project, and the Middleton Finance & Personnel Committee held discussion and deferred any final recommendation until after the planning commission reviews the rezoning request.
Abby, a city planning staff member, told the committee the recommendation rests on several grounds: the project site is already within TIF District 5 (a district scheduled to close in 2036), the area is not identified in the city's comprehensive-plan guidance for a new site-specific TIF, statutory rules make a new site-specific TIF unlikely for primarily greenfield residential development, and the city has applied a…
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