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Developers present plan for Waunakee Business Park expansion; board moves to closed session on TIF and Hay Day development
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Summary
MLG Investments and Saint John Properties presented a plan to extend infrastructure and build two flex buildings on six acres in the Waunakee Business Park and requested a pay-as-you-go TIF incentive; the board voted to enter closed session under Wisconsin Statute 19.85(1)(e) to negotiate terms.
Representatives from MLG Investments and Saint John Properties presented a proposal to develop approximately six acres north of Frank H. Stubb Drive in the Waunakee Business Park, including infrastructure improvements funded by the developer and repaid via a pay-as-you-go tax incremental financing (TIF) incentive if the project generates sufficient incremental tax revenue.
Joe Bucovic of MLG said the developer would construct the necessary improvements at no upfront cost to the village and requested that the village repay those costs through a TIF pay-as-you-go incentive. Jason Akielski of Saint John Properties described planned two multi-tenant flex buildings intended to attract engineering firms, light industrial, office and fitness or medical tenants, and showed renderings and a site plan.
Trustees asked questions about renderings, visibility from Highway 19, building massing and how loading areas would be screened. After the presentation the board voted to convene in closed session under Wisconsin Statute 19.85(1)(e) to negotiate purchase of public properties/investing of public funds and bargaining positions related to the TIF and the Hay Day development agreement.
The record shows trustees authorized the board to meet in closed session and that a roll-call vote was taken; the public session record closed as the board prepared to deliberate privately on terms.
