The Middleton Plan Commission is recommending public assistance to support energy-efficient features in the third building of Tribeca Village, a T. Wall Enterprises apartment development. In a unanimous decision, the commission recommended spending $233,108 in TIF financing for the project, which was slowed by the recession but is expected to grow into a 31-acre site with retail, housing, and offices. Terrence Wall, president of T. Wall Enterprises, had originally asked the city for $738,000.
Middleton doesn’t typically use TIF for residential projects, but according to a report in the Wisconsin State Journal, Middleton Mayor Kurt Sonnetag said phase III can legally be considered a commercial project because ground level units could eventually be used for retail.
When Middleton first approved the project in 2008, the city was prepared to offer $18 million in TIF for parking ramps, but that agreement was never completed. The city has only spent $487,000 thus far for a storm water pond.
