The Whitefish Bay Village Board voted 6-1 Monday night to approve the transfer of two parcels in Whitefish Bay to Shorewood.
The two lots are part of the former Mobil gas station site at the corner of Oakland Avenue and Kensington Boulevard. WiRED Properties, which owns the site, sought to consolidate the land in order to simplify its redevelopment to a mixed-use retail and apartment building.
By detaching the land from Whitefish Bay and making it part of Shorewood, the property would be incorporated into a tax-incremental finance district in Shorewood, making the entire site eligible for TIF funding.
In approving the detachment, the board agreed to accept $104,748 from Shorewood, the assumed loss of projected tax revenue for the two lots for the next 150 years.
The Shorewood Village Board still needs to approve the deal.
Your link to the biggest stories in the suburbs delivered Thursday mornings.
Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter Get the Newsletter!
- North Shore Police Reports: September 18, 2014
- Shorewood finalizes Metro Market development
- Larger brush strokes for Plein Air Festival
- North Shore Police Reports: September 11, 2014
- North Shore Police Reports: September 4, 2014
- Concerns surround Shorewood development plans
- North Shore Police Reports: August 28, 2014
- With state funding tied to enrollment, North Shore public schools turn to marketing
- Shorewood man accused of voter fraud pleads insanity
- North Shore Police Reports: August 21, 2014