The Community and Economic Development Committee is meeting 10/26/2022 at 4:30PM.
The one item on the agenda is a request to amend the Development Agreement with URBANE 115, LLC for the Merge housing development that is being constructed on the corner of Washington Street and Oneida Street near the transit center. It looks like Merge needs more money to move forward with the project, and per the memo, “without this increased TIF support, work could be stopped and the project would be jeopardized.” Also per the memo, “These amended terms are in response to the changing environments of interest rates and construction costs rising, supply chain challenges, and labor shortages.”
[Hopefully, the discussion at the committee will involve a clear explanation of what this costs taxpayers and how it benefits taxpayers. It would also be nice if there could be a clear explanation as to why, in response to the tough economic situation right now, the city is raising taxes and utility rates on residents but also apparently wants to increase support to this particular private company. Am I a little frosty about this? Maybe.]
View full meeting details here: https://cityofappleton.legistar.com/MeetingDetail.aspx?ID=994289&GUID=3249FAD1-219F-4A99-B942-871A54F9C795
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