Milwaukee officials pitch $4.7 million in TIF funding for two affordable housing projects

Milwaukee officials are proposing two new tax incremental financing districts totaling about $4.7 million to support affordable housing developments in Bay View and the Near West Side. The first proposal would provide $2.6 million toward the redevelopment of a vacant former hospital at 2711 W. Wells St. into 124 affordable housing units. The project, ...

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Leo's notes: Milwaukee’s proposal of two new Tax Incremental Financing (TIF) districts totaling roughly $4.7 million to support affordable housing underscores a growing trend: adaptive reuse paired with TIF is becoming a critical tool to unlock otherwise infeasible projects. As construction costs remain high, leveraging underutilized buildings and targeted public financing will be essential to scaling affordable housing in built-out urban areas.

Ken Notes: We need a new program for communities to buy and improve properties then ask builders, developers, and others to build homes for sale at unsubsidized affordable prices for our workforce. P.S. Sorry if the paywall prevents you from reading the details...