Committee approves TIF term sheet for 14‑unit 'missing‑middle' project at Menomonee River Parkway, 6–1

The Wauwatosa Financial Affairs Committee approved a term sheet offering pay‑as‑you‑go tax‑increment financing for a proposed 14‑unit residential project at 7746 Menomonee River Parkway.

CDA staff and consultant Baird told the committee the developer, JJH 3 Group, requested pay‑go assistance with a present‑value subsidy of $880,000 for 14 rental units (a mix of townhomes and apartments). Staff said the site is a small, difficult parcel the CDA acquired years ago and that the proposed structure would rebate 100% of the increment to the developer; because the project consumes the TIF increment there would be no TIF funds left to subsidize deeper affordability on this site.

An applicant representative (Jeff), participating by Zoom, described design choices intended to reduce construction costs — walk‑up apartments served by a single stairwell and four higher‑priced townhomes — and said the project likely would not be financially feasible without TIF support. "We think this is a project that's beneficial for the community as a whole," Jeff said.

Committee members questioned the rent levels included in the confidential attachments (staff cautioned members not to quote confidential attachment details in open session). One member cited townhome rents referenced in the materials that were high relative to average local mortgage costs; staff and other alders said the site’s constraints and redevelopment history limited options and that the project still helps diversify housing product types in the village.

Alder Gustafson moved to approve the staff‑recommended term sheet; the motion passed 6–1, with Alder McClough recorded as voting against. The chair and mayor praised the proposal as a pragmatic 'small‑ball' approach to adding missing‑middle housing on a challenging parcel; staff noted the CDA purchased the land years earlier and invested in demolition and remediation.