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| | 1. | | Pledge of Allegiance
Minutes note: The meeting was called to order at 1:30 p.m. The Pledge of Allegiance was said | | | |
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| | 3. | | Minutes
Minutes note: After the Pledge of Allegiance and Roll Call, the Chair asked for a motion to adopt the January 15, 2026 Meeting Minutes. Hearing no corrections or objections, the minutes were adopted by consensus.
Mr. Misky reported that for today’s public hearings regarding approval of a Project Plan, the required Class II notices were published in the Daily Reporter on February 5th and February 12th. The public hearing regarding approval of a Project Plan Amendment, the required Class I notice was published in the Daily Reporter on February 12th.
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| | 4. | | Resolution approving a First Amendment to the Project Plan for Tax Incremental Financing District No. 127 (100 East Wisconsin).
Minutes note: Larry Kilmer of the Commissioner’s Office provided a summary of the District that was approved in July 2025. The office conversion TID was for $14.4M with a 16 year payback that would provide 75 units of workforce housing. Since that approval the project has incurred additional costs including higher construction costs, interest rates, and holding costs with the total project cost increasing from $165M to $186M. The amended terms would add an additional $2.2M and 4 years to the TID.
Commissioners Charlier and West asked for additional information on the increased costs. Joe Klein of the development team responded that the HUD application for financing was nearly a year ago and since that time labor costs have increased with Davis-Bacon requirements, material costs for construction increased, and the cost of including Small Business Enterprise (SBE) and the Resident Preference Program (RPP) have increased.
Commissioner Smith moved for adoption of the resolution and it carried by a vote of 6 ayes, 0 nays, and 1 abstention (Commissioner Galvan arrived midway through item). Adopted resolution is No. 11062.
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| 0 | 5. | Resolution | Resolution approving a First Amendment to the Project Plan for Tax Incremental Financing District No. 127 (100 East Wisconsin). | | | |
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| | 6. | | Resolution adopting the boundaries and Project Plan for Tax Incremental Financing District No. 130 (VIA).
Minutes note: Mr. Kilmer provided the background to the project at 1000 S. 5th Street. The $23.68M project includes 82 units comprised of 16 studio, 56 one-bedroom, and 16 two-bedroom units. The $3.8M Workforce Housing TID has a 24-year payback at a 6.5% interest rate and includes a cost saving provision, a clawback provision, and a safety valve provision. The provisions are to protect the developer and the City to ensure a successful project. The project also includes 25% SBE and 40% RPP.
Joey Wisnewski of New Land Enterprises shared the success of the development team with 2,200 units in Milwaukee and 200,000 square feet of commercial space. This would be the company’s 4th and 5th projects in the Walker’s Point neighborhood.
Commissioners Charlier and West asked for further clarification on Workforce TIDs with Mr. Kilmer and Mr. Wisnewski providing information on income limits and this being a tool for workforce housing that does not qualify for tax credits. Commissioner Charlier asked about management of the new building to which Mr. Wisnewski stated New Land would be self-performing the management of the building like all of their other developments.
Commissioner West asked if families were considered as the make up of the units was being designed. Both Mr. Kilmer and Mr. Wisnewski shared that the negotiations included unit mix and that New Land’s experience is that larger units are the last ones rented (i.e. demand is not there) and the majority of the projected units will be for young professionals. Executive Director Crump also spoke to the level of effort the developer and the City negotiated the Workforce Housing TID and collectively did want to limit the development any further. The policy could also change as time goes including the unit mix.
Commissioner Galvan asked about the length of the affordable rent rates. Mr. Kilmer stated the length mirrors the TID length with a minimum of 20 years. Commissioner Galvan then asked about parking which is an extra expense to the tenants.
Commissioner Charlier moved for adoption of the resolution and it carried by a vote of 7 ayes and 0 nays. Adopted resolution is No. 11063.
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| 0 | 7. | Resolution | Resolution adopting the boundaries and Project Plan for Tax Incremental Financing District No. 130 (VIA). | | | |
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| | 8. | | Resolution adopting the boundaries and Project Plan for Tax Incremental Financing District No. 131 (FORMA).
Minutes note: Mr. Kilmer provided the background to the $17.93M project at 412 S. 4th Street. The 65 units are comprised of 12 studio, 40 one-bedroom, and 13 two-bedroom. The $2.975M Workforce Housing TID has a 24-year payback at a 6.5% interest rate. All the same provisions presented for TID No. 130 apply including cost saving, clawback, and safety valve.
Commissioner Galvan asked about the unit sizes to which Mr. Wisnewski shared the studios are between 450 and 550 square feet, the one-bedroom are approximately 750 square feet, and the two-bedroom are 1,300 square feet.
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| 0 | 9. | Resolution | Resolution adopting the boundaries and Project Plan for Tax Incremental Financing District No. 131 (FORMA). | | | |
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| | 10. | | Resolution authorizing execution and recording of satisfaction to terminate of record completed, expired, and obsolete Redevelopment Plans.
Minutes note: Mr. Misky stated the Authority Board has approved similar resolutions in the past for expired or completed redevelopment plans. This resolution includes the expiration of Beerline A, N. Jefferson & E. Wells, and N. Market & E. Highland. Once approved, satisfactions will be recorded against property titles.
Commissioner Smith moved for adoption of the resolution and it carried by a vote of 7 ayes and 0 nays. Adopted resolution is No. 11065.
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| 0 | 11. | Resolution | Resolution authorizing execution and recording of satisfaction to terminate of record completed, expired, and obsolete Redevelopment Plans. | | | |
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| | 13. | | Adjournment
Minutes note: The meeting was adjourned at 2:25 p.m. Minutes prepared by David Misky. | | | |
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