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Council postpones TIF approval for JT Klein housing project pending updated plans
Summary
Stoughton council delayed action on a pay-as-you-go TIF for a proposed roughly 120-unit affordable/workforce housing project by JT Klein after alderpersons asked for updated plans and details about unit composition and public improvements.
Council discussed but postponed a tax-increment financing (TIF) development agreement for a proposed JT Klein housing project at the June 23 meeting.
The proposed agreement would have provided pay-as-you-go TIF assistance with a maximum future-value TIF amount discussed at about $5.37 million, subject to a look-back after financial closing and adjustment where the final gap differs. The project was described in staff materials as about 120 units with a mix of workforce and age-restricted units; staff told council the developer previously received a conditional use permit (CUP) but that CUP has lapsed and a new site plan is expected.
Multiple alderpersons said they wanted current renderings, a clearer breakdown of how many workforce units would be included and which improvements the TIF would fund. With building start dates discussed by staff and developers, some alderpersons said they preferred additional project details before approving any TIF commitment. The council voted to postpone action until the developer returns with updated plans and until zoning/CUP matters are resolved.
