MONROE - The City of Monroe Common Council passed three resolutions Tuesday in conjunction with a 60-unit senior housing development project being proposed for 8th Street and 16th Avenue by Silverstone Partners, Inc. But the council votes were not unanimous.
Alderman Charles Koch said he was voting against all city actions that would move the project forward.
"I had many contacts from residents in the city, and an overwhelming majority of them are opposed to the location," he said. "Therefore, I cannot approve acting on any Silverstone (resolutions) tonight."
Koch stood as the lone dissenter against expanding the boundaries of Tax Increment District 7 to include the development site and the payment of $231,700 as an development incentive. However, the resolution passed on an 8-1 vote, with Alderman Keith Ingwell absent.
Koch was also alone in refusing to approve a cost reimbursement agreement with Silverstone, which would pass the costs of legal, and technical administrative services onto the development firm - beginning Nov. 1, 2010. That resolution also passed 8-1.
Koch was joined by Alderman Neal Hunter in opposing a resolution to sell the property, currently a city-owned parking lot, at a fair market value of $42,700. Sale approval is based on the condition that Silverstone acquires about $5 million in tax credits for the project from Wisconsin Housing and Economic Development Authority.
The Common Council will vote Dec. 21, following a public hearing, on an ordinance adopting a general development plan for the Silverstone Planned Unit Development (PUD), which would also rezone the property as a PUD district.
For his part, Koch sees more than financial woes coming with the development project.
At the Public Property Committee Tuesday, Koch questioned losing the parking lot, which he called a "valuable asset" to the city now and "worth more in future development."
"If we have to replace it in another location, it would cost more to replace," he said.
Koch also asked about complications that may come with the construction of the development's underground parking lot.
Digging into the bedrock that much of Monroe is built on "could start the shelf to start moving around," Koch said. The result could be cracked plaster in neighboring homes for years to come, he explained.
Koch also said the project was too large for the site, with very little green space around it, and thus would constrict the green space of current residents, who will lose a sense of privacy. He also objected to subsidizing a private enterprise, which will not increase long-term employment for the city.
"If we need the money, why can't we go out for bonds on this?" he said. "It's not a proper time to use the city's money for this."
The development incentive amount was increased from the original project plan, and approved in the Finance and Taxation Committee Tuesday. Silverstone originally requested the city sell the land for a nominal cost of $1,000, and the TID provide $190,000 for development incentive.
City Attorney Rex Ewald recommended the city sell the property at a fair market value of $42,700, as determined by information from the city assessors office. In turn, the TID 7 fund (TIF) would pay a development incentive of $231,700.
The difference in the transactions keeps the city from shouldering a large share (46 percent) of the TIF contribution than it currently holds (34.5 percent) among the taxing entities involved, including the school district, vo-tech school, county and city.
The TID is a joint venture set up between the taxing entities.
"It struck me that, if the city gives the lot and (its share of) TIF incentive, the city becomes a larger player in the TIF district," Ewald explained.
"The TIF is not the city," he added. "The city is merely a participant in the TIF."
Any amendment to TID 7 needs the approval of the Tax Incremental Finance District Joint Review Board. The board met Dec. 1 and tentatively approved the original project proposal, but took no formal action.
With $42,700 in hand from the sale of the land, the city could either go out for bonds or pay for the extra $190,000 in development incentive from the city's general operating fund, with TID 7 fund repaying the city with interest.
Alderman Charles Koch said he was voting against all city actions that would move the project forward.
"I had many contacts from residents in the city, and an overwhelming majority of them are opposed to the location," he said. "Therefore, I cannot approve acting on any Silverstone (resolutions) tonight."
Koch stood as the lone dissenter against expanding the boundaries of Tax Increment District 7 to include the development site and the payment of $231,700 as an development incentive. However, the resolution passed on an 8-1 vote, with Alderman Keith Ingwell absent.
Koch was also alone in refusing to approve a cost reimbursement agreement with Silverstone, which would pass the costs of legal, and technical administrative services onto the development firm - beginning Nov. 1, 2010. That resolution also passed 8-1.
Koch was joined by Alderman Neal Hunter in opposing a resolution to sell the property, currently a city-owned parking lot, at a fair market value of $42,700. Sale approval is based on the condition that Silverstone acquires about $5 million in tax credits for the project from Wisconsin Housing and Economic Development Authority.
The Common Council will vote Dec. 21, following a public hearing, on an ordinance adopting a general development plan for the Silverstone Planned Unit Development (PUD), which would also rezone the property as a PUD district.
For his part, Koch sees more than financial woes coming with the development project.
At the Public Property Committee Tuesday, Koch questioned losing the parking lot, which he called a "valuable asset" to the city now and "worth more in future development."
"If we have to replace it in another location, it would cost more to replace," he said.
Koch also asked about complications that may come with the construction of the development's underground parking lot.
Digging into the bedrock that much of Monroe is built on "could start the shelf to start moving around," Koch said. The result could be cracked plaster in neighboring homes for years to come, he explained.
Koch also said the project was too large for the site, with very little green space around it, and thus would constrict the green space of current residents, who will lose a sense of privacy. He also objected to subsidizing a private enterprise, which will not increase long-term employment for the city.
"If we need the money, why can't we go out for bonds on this?" he said. "It's not a proper time to use the city's money for this."
The development incentive amount was increased from the original project plan, and approved in the Finance and Taxation Committee Tuesday. Silverstone originally requested the city sell the land for a nominal cost of $1,000, and the TID provide $190,000 for development incentive.
City Attorney Rex Ewald recommended the city sell the property at a fair market value of $42,700, as determined by information from the city assessors office. In turn, the TID 7 fund (TIF) would pay a development incentive of $231,700.
The difference in the transactions keeps the city from shouldering a large share (46 percent) of the TIF contribution than it currently holds (34.5 percent) among the taxing entities involved, including the school district, vo-tech school, county and city.
The TID is a joint venture set up between the taxing entities.
"It struck me that, if the city gives the lot and (its share of) TIF incentive, the city becomes a larger player in the TIF district," Ewald explained.
"The TIF is not the city," he added. "The city is merely a participant in the TIF."
Any amendment to TID 7 needs the approval of the Tax Incremental Finance District Joint Review Board. The board met Dec. 1 and tentatively approved the original project proposal, but took no formal action.
With $42,700 in hand from the sale of the land, the city could either go out for bonds or pay for the extra $190,000 in development incentive from the city's general operating fund, with TID 7 fund repaying the city with interest.