NEED FOR TIF IN DISPUTE
A dispute between the city and a developer over public financial support has derailed a proposed $10.5 million, 58-unit housing project that had been planned for a North Side shopping center.
The Bruns family, longtime owners of Northside TownCenter, formerly know as Sherman Plaza, proposed the four-story, 58-unit Warner View Luxury Apartments with 30 surface and 50 structured parking spaces in the shopping center's parking lot along Sherman Avenue across the street from Warner Park.
The Bruns family applied for $995,000 in city tax incremental financing (TIF) support for the project, but a city staff analysis says the project can be built and be profitable without TIF support. The family met with Mayor Paul Soglin and other city officials with a revised request in late December but the answer remained no. Without TIF support, "there is no deal," Dave Bruns said. "At this point, the deal's dead....