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Plan commission recommends TID 8 project plan for University Avenue corridor
Summary
The commission recommended adoption of TID 8, covering parts of University Avenue (about 69 parcels, ~40 acres). Consultant Jeff Maloney described a 97% blight determination, projected $83 million in tax revenue over the district life, and eligible public improvements including pedestrian crossings and corridor safety projects.
The Middleton Plan Commission voted to recommend that the common council adopt the Tax Increment Financing District 8 project plan for the University Avenue corridor. Consultant Jeff Maloney summarized the district as approximately 69 parcels (about 40 acres) and said the blight analysis shows roughly 97% of the area meeting the statutory redevelopment criteria.
Maloney outlined eligible public improvements that mirror recommendations in the University Avenue corridor plan: pedestrian crossings, underground utilities, signalization, streetscaping and bike/ped improvements. He projected about $2 to $21 million of private development potential (relative scale compared with TID 7) and an estimated $83,000,000 of tax revenue over the life of the district under the plan’s assumptions. Staff and commissioners discussed the timing of corridor projects and the option to amend boundaries later; the commission approved the recommendation by voice vote.
The plan does not assume early borrowing; cash-flow modeling shows a positive balance at the end of the district life if projected development occurs. The commission asked staff to clarify maps for some parcels and to prepare the council submittal.
