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Menomonee Falls board approves several TID amendments and new districts for redevelopment
Summary
The Village Board unanimously approved four Planning Commission resolutions to amend and create tax-incremental districts, including transferring roughly $5.9 million and donating about $4.2 million to support TID No. 6 and establishing TID Nos. 20 and 21 for redevelopment projects.
The Menomonee Falls Village Board on July 6 approved a package of Planning Commission resolutions to amend project plans and boundaries for several tax-incremental districts (TIDs).
Trustees voted unanimously to:
- Amend the project plan and boundaries of TID No. 9 to transfer about $5,900,000 in excess revenue to TID No. 6; the transfer is permitted under Wisconsin statute and was presented as covering eligible project costs in the recipient district.
- Amend the plan for another donor district to donate roughly $4,200,000 of tax increment to TID No. 6.
- Create TID No. 20 to support redevelopment at the former Kohl’s site off Ridgewood Drive (the proposal discussed conversion toward more industrial-type uses and significant building updates).
- Create TID No. 21 around the northeast corner of Lilly Road and Main Street to enable redevelopment of a vacant lot that requires soil work and retaining walls.
Planning staff and trustees said the Joint Review Board reviewed and recommended the plans before the Planning Commission’s unanimous approvals. The board noted the TID actions are intended to support redevelopment projects and to reallocate increments as permitted by state law.
What it means: The transfers and new districts are intended to free up funding for redevelopment projects, including a large redevelopment where soil remediation and structural work are required. Trustees said the action follows prior review by the Planning Commission and Joint Review Board; the Joint Review Board will hold a final meeting on July 23.
Details: Staff described the donor/recipient mechanics and told trustees the transfers are permitted by statute; the exact allocation schedules and project lists were in the packet presented to trustees. Trustees voted to approve the four items by voice vote and moved on to subsequent agenda items.
Reporting note: Specific dollar amounts mentioned in meeting discussion are drawn from the staff presentation to the board.
