Waukesha Electric memo of understanding moves forward
The Finance Committee of the Waukesha Common Council approved the memo of understanding for the proposed new TIF. The MOU states that the TIF would require a minimum of 100 new jobs added and a project value of $42 million in exchange for $9,000,000 in TIF financing. A developer agreement will be required for TIF approval. The finance committee’s vote was unanimous.
This is the kind of aggressive pursuit of non-retail development that mayoral candidate Jeff Scrima previously said the city needed, but he still criticized it today in a demonstration of a complete lack of knowledge about TIFs.
Shouldn’t a “developer” understand TIFs?