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Proposed TIDs to support 100 East Wisconsin and Compass Lofts developmentsMilwaukee Mayor Cavalier Johnson’s Department of City Development (DCD) is proposing the creation of two new tax incremental districts (TIDs) to support the development of affordable and workforce housing, generating new homes on the site of a long-vacant tax foreclosed commercial building on King Drive and adaptive reuse of an underutilized office tower in the heart of Downtown. On July 3, the City published a public hearing notice for TID 127 (100 East Wisconsin) and TID 128 (Compass Lofts). In April, DCD released updated Tax Incremental Financing for Housing Development Guidelines. The department’s updated policy prioritizes projects that create affordable and workforce housing options and developments that repurpose underutilized central business district office buildings into residential properties... Leo’s notes: Milwaukee’s proposed TIDs for 100 East Wisconsin and Compass Lofts reflect a bold, targeted use of public financing to create affordable and workforce housing where it`s needed most. By transforming vacant and underused buildings into vibrant residential hubs, the city is advancing equity, preserving community, and proving that thoughtful redevelopment can benefit both existing residents and future growth... | ||
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