Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Brown Deer approves redevelopment agreement for Citizens Bank site with added public‑art commitment
Summary
The Village Board approved a development agreement allowing Woodsonia to acquire the Citizens Bank parcel and DOT surplus land for redevelopment, setting TID assistance cap of $10.8 million and increasing the public‑art contribution to $100,000 by board amendment.
The Brown Deer Village Board on June 15 approved a development agreement with Woodsonia Real Estate to acquire and redevelop the former Citizens Bank parcel at 4,000 West Brown Deer Road, including surplus DOT land, and amended the deal to raise the public‑art commitment from $50,000 to $100,000.
Staff reported the developer would purchase the assembled parcel from the village for $1.3 million and must deliver at least 150 residential units and 6,000 square feet of leasable commercial space; the development carries a guaranteed assessed‑value trajectory (starting guarantees in the presentation and rising over time). The development agreement includes standard land‑use controls, stormwater and signage requirements, and a pay‑as‑you‑go TIF assistance cap of $10.8 million. The cost to secure right‑in/right‑out driveway access from WisDOT was described as a significant expense to be shared 50/50 by the village and developer.
Trustees discussed financing pro formas and the timing of vertical development; staff said two financial scenarios were provided (one based on guaranteed values and a more optimistic assessed‑value scenario) and that the project is sensitive to market conditions. A trustee moved to approve the agreement with an amendment to increase funding for public art to $100,000; the motion carried.
Why it matters: The acquisition and development of this corner is a cornerstone of the Riverside Landing master plan and carries significant TIF and public‑investment implications. The public‑art amendment signals the board’s interest in placemaking alongside private development.
Next steps: Final building and site plans, stormwater engineering and outlot development will return for review; the right‑in/right‑out permit process with WisDOT will continue as part of engineering and access work.
