Milwaukee Journal Sentinel
Falls developments may get lift
Proposal offers $18M in village financing
A business park and other developments planned for Menomonee Falls would receive up to around $18 million in village financing under a new proposal.
The cash would come from new property tax revenue generated by the office buildings and other projects envisioned for an area near the village’s northeastern corner.
That area includes the International Auto Buick-GMC and Volkswagen auto dealerships, formerly operated by von Schledorn Auto Group, N88 W14167 Main St.
That’s where Cobalt Partners LLC has announced plans to develop a 20acre corporate office park.
The proposal, which needs Village Board approval, would extend the borders of a tax incremental financing district, which runs along Main Street, east from Fountain Boulevard to a point west of Esquire Road.
Properties within the expanded 57acre tax financing district would include light industrial buildings used by such companies as EnSync Inc. and Vollrath Co., as well as vacant land north of Main Street.
Cobalt’s proposed office park is the biggest development announced for the new district.
International Auto’s Buick-GMC and Volkswagen dealerships are planning to relocate to make way for the Cobalt project.
Their planned new location is a vacant site just north of Main Street, between Fountain Boulevard and Lily Road, said Dan Jansen, general manager at West Allis-based International Auto.
International Auto plans to break ground next year on two separate buildings for the dealerships, and move to the buildings by September 2019, Jansen said Friday.
The village would spend $17.8 million in 2021 within the expanded tax financing district.
That could pay for such things as property acquisition, relocation of current businesses, environmental cleanups, demolition, grading, and construction of sewers, water mains, streets and other public improvements.
The proposed district plan is to undergo Plan Commission review on Sept. 11, and Village Board review on Sept. 17.