Wisconsin Development News
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Monroe Commons is latest TIF gone bad
Madison - 11/17/2010 You can officially add Monroe Commons to the list of Madison TIF deals turned sour.
A partnership headed by the Keller Real Estate Group is not meeting payments due the city for $2.52 million to develop 52 residential units, the Trader Joe's grocery and related parking.
Under the tax increment financing (TIF) agreement, the developers were supposed to make additional payments to the city if new prop- erty taxes generated -- the "increment" -- failed to meet projections. And they haven't.
The developers owe the city $322,522, but a new agreement approved by the City Council last week requires only a $90,000 payment by the end of 2010. The developers will now have until 2014 to make full re- payment…
Ken Notes: Why do we call this "BAD" -- it is a great project that is struggling in very difficult times. Do we now not like Trader Joe's or the great brick and mortar this project brought to the area. If Keller were bank of America, our government would have given them money to stay whole. This is not TIF gone bad it is Madison sharing in a very difficult economy.
http://host.madison.com/ct
Cieslewicz schedules more interviews in sputtering search for planning director
Madison - 11/17/2010 After reopening the selection process, Mayor Dave Cieslewicz on Tuesday will interview two more finalists for director of Planning Community and Economic Development, one of the city's premier jobs.
Cieslewicz will interview Steven Cover, senior vice president at Hell- muth, Obata & Kassabaum, a private company in Atlanta, and former commissioner of the Atlanta Department of Planning and Community
KEN HARWOOD The Future Wisconsin Project and Wisconsin Development News P.O. Box 930234 Verona, WI 53593-0234 Phone (608) 334-217
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Development, and Aaron Olver, Wisconsin's secretary of Commerce and former official in the campaign…
Ken Notes: Aaron is not a bad choice and Atlanta has a good plan in place. I want a person who gets the business side of the equation. I wonder if Dave still reads WDN.
http://host.madison.com/wsj OPINION: Killing train is economic treason
Wisconsin - 11/17/2010 So this is what the next four years are going to be like.
Any chance Wisconsin had to economically position itself on what eventually will be a high-speed national passenger rail network went up in smoke last week when Gov. Jim Doyle turned the decision on accepting the federal money to build the crucial link between Madison and Milwaukee over to Gov.-elect Scott Walker.
Walker and his party have already signaled that everything will take a back seat to a renewal of the culture wars we thought might finally be behind us. There will be little done to…
Ken Notes: Why must we puff on both sides of this issue, lets do the numbers and make a good business decision with sound finan- cial logic. If we are Open for Business lets act like businessmen or businesswomen...
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