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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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| | 2. | | Roll Call | | | |
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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 July 17, 2025 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 August 7th and August 14th. The public hearing regarding approval of a Project Plan Amendment, the required Class I notice was published in the Daily Reporter on August 14th.
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| | 4. | | Resolution approving a Fourth Amendment to the Project Plan for Tax Incremental Financing District No. 53 (Menomonee Valley Business Park).
Minutes note: Alyssa Remington of the Economic Development Team stated the TID was created in 2003 and has been amended three times for infrastructure and environmental work over the years. Amendment #4 would provide $600K for Commercial Corridor funding ($300K for W. National Avenue and $300K for other business districts in the ½-mile boundary) and $150K for infrastructure related to Three Bridges Park. Additional background would include the TID generating $1.7M annually with a pay off in year 26 or 2028.
Commissioner West asked for clarity on the Master Agreement for Three Bridges Park to which Mr. Misky stated RACM is responsible for the environmntal cap of the Park and the Park cap is currently in need of some restoration of damage caused by certain uses.
Commissioner Galvan asked if the Brewers would be eligible but the group recognizes the bounary only covers their easterly parking lot and the grant dollars are very limiting. Commissioner Jones asked if this amendment would take the TID to the end of the expenditure period to which Ms. Remington stated it would for infrastructure but using the TID for housing initiatives is still possible.
Commissioner West moved for adoption of the resolution and it carried by a vote of 6 ayes and 0 nays. Adopted resolution is No. 11047.
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| 0 | 5. | Resolution | Resolution approving a Fourth Amendment to the Project Plan for Tax Incremental Financing District No. 53 (Menomonee Valley Business Park). | | | |
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| | 6. | | Resolution adopting the boundaries and Project Plan for Tax Incremental Financing District No. 126 (Field House Flats).
Minutes note: Larry Kilmer of the Commissioner’s Office provided specifics of the Field House Flats project including creation of 269 apartment units with 88 units at 50% AMI, 137 units at 60% AMI, and 44 units at 80% units. The $115M project includes a 27K square foot field house for MATC. The project is consistent with the area plan and will be completed in 2027.
Josh Jeffers of the development team J. Jeffers and Company introduced his firm having focused a lot on adaptive reuse. The $6.77M TIF is a developer-financed loan at 6.0% interest to be repaid in year 18. The development will include 25% Small Business Enterprise (SBE) and 40% Resident Preference Program (RPP).
Commissioner Galvan asked if the plans had changed since the Board had seen the plans with the RACM land sale to which Mr. Kilmer stated no that the approved Detailed Plan Development has not changed including a significant bike parking area.
Commissioner Charlier asked about the agreement “being contingent upon the TID 84” to which Dan Casanova of DCD stated this TID is an overlay and TID 84 will continue to exist.
Resident Cade Gerlach spoke in favor of the project and proposed TID but would like consideration for improvements to Vel R. Phillips.
Commissioner Smith moved for adoption of the resolution and it carried by a vote of 6 ayes and 0 nays. Adopted resolution is No. 11048.
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| 0 | 7. | Resolution | Resolution adopting the boundaries and Project Plan for Tax Incremental Financing District No. 126 (Field House Flats). | | | |
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| | 8. | | Resolution adopting the boundaries and Project Plan for Tax Incremental Financing District No. 129 (Mitchell Building).
Minutes note: Mr. Kilmer introduced workforce housing TID-129 that would provide $1.9M of assistance to a $24.2M investment by J. Jeffers and Company at 207 E. Michigan Street. The project involves construction of 60 housing units with 40 units at 80% AMI, 15 units at 90% AMI, and 5 units at market rate. The office to residential conversion will dove-tail with the recent conversion of the adjacent Mackie Building. The project is to be completed in early 2027.
This site-specific TID of $1.9M is a developer-financed loan at 6.4% interest to be repaid in year 20. The development will include 25% Small Business Enterprise (SBE), 40% Resident Preference Program (RPP) and an annual voluntary Business Improvement District contribution until the TIF District is paid off or the BID ceases to exist.
Commissioner Galvan asked about commercial space to which Mr. Jeffers stated there would be 3,000 sf for J. Jeffers and Company’s office.
Commissioner West moved for adoption of the resolution and it carried by a vote of 6 ayes and 0 nays. Adopted resolution is No. 11049.
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| 0 | 9. | Resolution | Resolution adopting the boundaries and Project Plan for Tax Incremental Financing District No. 129 (Mitchell Building). | | | |
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| | 10. | | Resolution authorizing the application, acceptance, and funding of a grant for the construction of new Riverwalk along the Kinnickinnic River from the United States Environmental Protection Agency Great Lakes National Program Office.
Minutes note: Mat Reimer stated this resolution is to accept a $1M grant from the USEPA for a new 1,070-foot riverwalk along the Kinnickinnic River that would include shoreline stabilization, a paved path, boardwalk,lighting, and native landscaping. The project involves three property owners including a small RACM-owned site.
Commissioner West asked if the new riverwalk could utilize the existing natural areas. Ms. Tia Torhorst, Executive Director of the Harbor District Inc., described the riverwalk overlay district that has different guidelines than the downtown or Third Ward Riverwalks. The Harbor District riverwalk will use the natural edges as much as possible.
Commissioner Galvan asked about Riverwalk connections to which Ms. Torhorst stated the Michels Riverwalk is completed and construction of the Komatsu Riverwalk is starting.
Commissioner Galvan moved for adoption of the resolution and it carried by a vote of 6 ayes and 0 nays. Adopted resolution is No. 11050.
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| 0 | 11. | Resolution | Resolution authorizing the application, acceptance, and funding of a grant for the construction of new Riverwalk along the Kinnickinnic River from the United States Environmental Protection Agency Great Lakes National Program Office. | | | |
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| | 12. | | Redevelopment Authority Staff Presentation on the 2024 Annual Report of Tax Incremental Districts.
Minutes note: Lori Lutzka of Economic Development and David Schroeder of Finance summarized the 2024 TID report. The City has 68 TIDs with $3.1B of incremental property value generated totaling 6.77% of the City's 2024 total equalized value. The future project costs to be recovered are estimated at $85MM. The City created 4 TIDs and amended 6 TIDs in 2024.
Commissioner West made a motion to accept the 2024 Annual Report of Tax Incremental Districts.
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| | 13. | | Review and Acceptance of RACM’s 2024 Financial Statements by Baker Tilly. | | | |
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| | 14. | | Resolution approving the 2026 Redevelopment Authority of the City of Milwaukee Operating Budget.
Minutes note: David Piedt, Finance and Administration, provided an overview of the 2026 budget. Mr. Piedt stated the City’s Budget Office has agreed to a decrease the personnel contribution an additional $684K from last year. In recent years, RACM was required to make a contribution to the City of ~$1.5M for personnel. The City has agreed to decrease that amount over the past two years since RACM’s sources of revenue (rental income and land sales) have been decreasing and the cost for insurance has been increasing ($180K per year). The reserve balance remains ~$6MM with ~$3MM encumbered for liabilities. Mr. Piedt stated that RACM will continue to make a $100K contribution to the City for personnel and $125K to the City Attorney’s Office in 2026.
Commissioner Galvan moved for adoption of the resolution and it carried by a vote of 6 ayes and 0 nays. Adopted resolution is No. 11051.
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| 0 | 15. | Resolution | Resolution approving the 2026 Redevelopment Authority of the City of Milwaukee Operating Budget. | | | |
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| | 16. | | Resolution approving the 2026 meeting schedule.
Minutes note: Meetings will continue to be held on the 3rd Thursday of the month in 2026.
Commissioner Smith moved for adoption of the resolution and it carried by a vote of 6 ayes and 0 nays. Adopted resolution is No. 11052.
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| 0 | 17. | Resolution | Resolution approving the 2026 meeting schedule. | | | |
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| | 18. | | Other Business | | | |
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| | 19. | | Adjournment
Minutes note: The meeting was adjourned at 3:12 p.m. Minutes created by David Misky. | | | |
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