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Trustee Meeting 9/21 - Smaller Bay, Recruitment Program

Trustees, Village Board, Silver Spring, BID

There were two major items on the docket for the 9/21 Trustee meeting .. that wrapped up after 11pm after much consideration.

First was the discussion concerning the detachment of the former Mobil gas station on Oakland, which sits on the municipal line between Shorewood and WFB.  WiRED properties had proposed a development of 25 "luxury" apartments and 4 commercial spots.   You can read my original look at the project here

The short story is that the development wouldn't go forward without TID financing, which means the project must lie in a single municipality.  Shorewood had offered to compensate Whitefish Bay about $104k to make up for the loss in tax revenue.   As a reminder, the property was a parking lot, generating $2,500 in annual tax revenue for the Village.

Additionally, Shorewood offered a second proposal, in that, instead of receiving $104k, Whitefish Bay would participate in the TID financing at a 30% rate (70% of the development is in Shorewood) and invest ~ $430k, then receive 30% of tax revenues later.   After much discussion, the Trustees decided the original proposal was in our best interest, and passed the "detachment" resolution.

So if the Bay seems a little smaller this morning.. well, you're right.

The other major item on the docket was the a retail "recruitment" program for Silver Spring.   In an effort to bring more business to Silver Spring, the Village and the Business Improvement District is putting their money where their mouth is.

The recruitment program works like this .. The BID taxes its members (Silver Spring businesses) to the tune of $100,000, and the Village matches that total to bring the pot to $200k.

New merchants can then apply for grants up to $50,000.  The applications are reviewed and voted on by the BID and the Village's Community Development Authority. 

So there you go .. in the last 12 months, Whitefish Bay has marked off a number of major accomplishments:

Business Improvement District created - CHECK

Street-scaping completed - CHECK

Two Restaurants opened - CHECK

BID Marketing / Recruiting Director hired - CHECK

Retail Recruitment Program  - CHECK

In the forseeable future, four new businesses should be opening on Silver Spring .. JJ Design, Simon Oliver, Oro di Olivia, and later, City Market.

Oh, and the Business District quietly revealed their new website at http://www.shopwhitefishbay.com.

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