Sunday, September 18, 2011
The TIF district will help the $8.5 million renovation of Boston Store.
The Joint Review Board will review and consider approving the third TIF district in Greendale that will assist Boston Store's effort to remodel the interior of its Southridge Mall location on Wednesday. The panel, made up of representatives from the Greendale's separate taxing bodies, will review the $2 million TIF district to help the store finance its $8.5 million renovation. The TIF would be constructed with a 15-year payback, said Village Manager Todd Michaels at previous meeting. He also noted that the village sold the bonds with a 3.7 percentage rate the second Southridge Mall TIF. That is one percent less than the village anticipated. The first tax incremental financing (TIF) district was approved by the board for the construction …
Tuesday, August 9, 2011
Tax incremental district will be created to help Boston Store remodeling project. JCPenney might also be next to remodel.
A plan to financially assist Boston Store's effort to remodel the interior of its Southridge Mall location is taking shape as the Village's Joint Review Board began deliberating it Monday morning. The panel, made up of representatives from the Greendale's separate taxing bodies, was presented with the option to create of a third tax incremental financing district to help the store finance its $8.5 million renovation. According to village manager Todd Micheals, the municipality would commit about $2 million through a TIF district, which uses future property taxes from the development to pay off loans needed to create the development. "We anticipate that we will get some ancillary projects from it," he said. The TIF would be constructed …
Wednesday, August 3, 2011
The planning commission will hold a public hearing about the review of the third TIF district.
The Village of Greendale has begun the review of a third TIF district that will help the renovation of Boston Store in Southridge Mall. Boston Store announced last month that it will renovate its Southridge store and expand parts of it. In the Village website it says, “We believe the renovation of Southridge’s Boston Store is one more step toward returning Southridge to the dominance it once enjoyed and Village leaders are committed to exploring ways that we can continue to support this business development.” The first tax incremental financing (TIF) district was approved by the board for the construction project of a $17 million 90-unit senior housing complex along the South 76th Street Corridor, adjacent to Southridge Mall. The second …
