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.
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