BRIEF

Mar 9, 2010 — The Wisconsin State Journal

Devin Rose

Mar. 9, 2010 (McClatchy-Tribune Regional News delivered by Newstex) -- The city's Board of Estimates approved a motion Monday night that would loan $300,000 in tax incremental financing to the developer of a Near West Side senior housing project.

Wingra Commons has proposed to construct the 62-unit income-restricted project at 1012 Fish Hatchery Road, which has an estimated cost of $8,919,000.

According to city records, no tax incremental district has been created on or near the property, but city TIF coordinator Joe Gromacki said one will be created this year to be included in the 2011 capital budget. Gromacki said a similar situation happened with the redevelopment of University Square near UW-Madison.

The motion now goes to the mayor and city clerk, who will put together a development agreement subject to the approval of the city attorney.

In addition to other motions adopted, the board voted to create a paid executive director of the Community Development Authority. The CDA is responsible for big projects such as the redevelopment of Allied Drive, Villager mall and Truax public housing. The CDA also runs public housing and the federal Section 8 voucher program for low-income people.

Newstex ID: KRTB-0219-42709163