RDA revisits public market: staff seeks TID11 funds, updated feasibility study

Julie, a city staff member presenting to the Redevelopment Authority, said the city and RDA completed initial predevelopment work on a public market between 2017 and 2020 but paused progress during the pandemic. "We spent the last several months kind of researching a lot of other Wisconsin public markets… and looking at things like success rates and how they funded their market structures," Julie said, describing interviews and comparative studies the team conducted.

Julie told members the next step is to update the feasibility study and business plan and to consider hiring or identifying an organization to "own the process" and oversee the updates and next-stage planning. She said funding exists in Tax Increment District 11 (TID 11) and that staff would bring a resolution for RDA and common council approval that would specify any transfer amount and terms.

The RDA discussed timeline and operations; Julie said predevelopment would likely be a one-year effort to determine whether the market remains viable now and what the operational model would require. She noted that TID 11's expenditure period ends in October for transfers but that the district itself remains active through 2031, which influences timing for any agreement.

Members indicated informal support to pursue the next steps and asked staff to formalize a resolution and agreement language when the item returns. The RDA did not take a formal funding vote at the meeting; Julie said staff will return with a resolution that would specify dollar amounts and contract terms for the proposed partnership and be subject to council approval.

Next steps: staff will draft a resolution identifying the proposed TID transfer and project deliverables and bring it back to the RDA and common council for formal consideration.