MILWAUKEE - Milwaukee Mayor Cavalier Johnson and other city leaders announced on Thursday, Nov. 3 newly-proposed tax incremental financing (TIF) investments that will fund traffic-calming and public infrastructure improvements in the city.
A news release says the proposed TIF investments will target public infrastructure and plaza improvements along North Avenue between Humboldt and Prospect where pedestrian and bicyclist safety are a concern. The investments will also zero in on the area surrounding the recently-announced Fiserv, Inc. global headquarters in downtown Milwaukee.
The proposed TIF investments will require approval from the Joint Review Board, the Redevelopment Authority of the City of Milwaukee, and the Milwaukee Common Council.
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David Smulyan, Executive Director of the East Side BID #20, issued this statement:
"North Avenue is a central commercial corridor that is critical to the East Side’s commercial and residential vibrancy. It traverses through neighborhoods where many Milwaukeeans live, work, and play. We, as a BID, believe that the initial streetscape improvements on North Avenue can serve as a catalyst for additional improvements all along the avenue.
"We have seen in the United States and around the world that local businesses thrive in pedestrian and bike friendly areas. The business and commercial property owners and residents in the BID are eager to see infrastructure improvements that enhance traffic safety and create new public spaces. We strongly believe that these improvements will have a positive impact on our business district and the surrounding community."
The news release says to date, $18.4 million in approved TIF investments have been deployed for public infrastructure projects that are addressing reckless driving and improving multimodal transportation throughout Milwaukee.