Editorial Cartoon: Southridge's TIF Gift

For the past few weeks officials in Greendale have been speaking about the redevelopment of Southridge Mall and areas around it using Tax Increment Financing.

The Village of Greendale says there will be no additional cost to taxpayers for the establishment of the TIFF district. The $52.5 million redevelopment will come from the TIFF district.

Owners of Southridge Mall, Simon Property Group Inc., have agreed to make multi-million-dollar improvements to the mall's renovation and upgrade, according to the proposal.

The current mall anchors are Kohl's, Sears, J.C. Penney and Boston Store. At a Dec. 1 meeting there was talk of a Macy's department store occupying the former Younkers space.

The village hopes that this will revitalize retail businesses in the 76th Street area, according to the Village of Greendale proposal. 

There will be a meeting on Dec. 22 to review the TIFF district and possibly vote on it.