Alverno College selects top St. Catherine University official as its next president
Alverno College has named Andrea Lee as its next president to succeed the retiring Mary Meehan. Lee now serves as president of St. Catherine University in the Twin Cities. She will become the eighth president of the Milwaukee liberal arts college for women when she takes office at the start of the 2016-’17 academic year. She’s a member of the Sisters, Servants of the Immaculate Heart of Mary, who has served as an Alverno trustee from 2012 through 2015. During a nearly two-decade-long tenure at St. Catherine, Lee oversaw an enrollment jump of about 30 percent and an increase in philanthropic support, Alverno said in a press release. Under her leadership, St. Catherine built a new library and student center, laboratories, residence halls, athletic and academic facilities, along with renovating existing facilities. She holds four academic degrees, including a doctorate in educational administration from Pennsylvania State University and undergraduate degrees in music, elementary education and Italian. “We are incredibly proud to have a leader of this caliber to take Alverno College into the future,” said Don Layden, chair of the Alverno College board of trustees. Nationally, Lee served on the system-level board of Catholic Health Initiatives, one of the largest health care systems in the U.S., and has held leadership roles with the Association of Catholic Colleges and Universities. She has also served as a national chair of The Religious Network for the Equality of Women, an interfaith coalition active in pursuing legislation to ensure economic justice for women. “What a joy and honor it will be to lead the college to its next heights of academic distinction and to advance Alverno’s fine reputation as a vital member of the Milwaukee community,” Lee said in the release. Established in 1887, Alverno College offers more than 60 major areas of study and has about 2,300 students.
Feb 23rd, 2016 by Dave Reid
Stadium Park Draws Crowd
Four years ago, when his firm began construction on buildings to replace the former Ampco Metal Inc. foundry on Milwaukee’s south side, Jeff Hall figured the redeveloped site would eventually host companies with 200 to 300 employees. That turned out to be a conservative estimate, Hall said Thursday, at a ribbon-cutting ceremony marking the completion of Stadium Business Park. The four buildings, totaling about 200,000 square feet, are leased to employers with about 450 workers — with another 12,000 square feet still available, said Hall, president of Minneapolis-based Real Estate Recycling Inc. The business park’s success shows that businesses “are eager to expand and move into the city of Milwaukee” if they have the option of leasing space in new, high-quality buildings, Hall said. Stadium Business Park is on the Milwaukee-West Milwaukee border, west of S. 38th St. between W. Mitchell and W. Burnham streets, one mile southeast of Miller Park. Among its 10 tenants are commercial distributors, such as Illco Inc. and Wesco International Inc., which typically have relatively small numbers of employees. But the park also landed more office users than Hall expected. Those employers, which include Aurora Health Care, Associated Bank and the U.S. Department of Veterans Affairs, tend to employ higher numbers of people. The development’s tenants also include manufacturers, such as Air Logic Power Systems LLC, which moved there from an older building just north of the business park. Location valued Air Logic, which is leasing 19,000 square feet, wanted to stay in the area mainly to make sure it would retain its 45 employees, who valued the company’s central location, said Roger Trambling, company president. That location, which is near I-94, and the growing number of restaurants and stores on nearby Miller Park Way, have helped draw tenants, Hall said. Ampco had just 125 employees when it closed in 2002, leaving behind an empty, polluted site, Mayor Tom Barrett said. He said the new development’s jobs, $15 million in property tax base and elimination of a blighted buildings are signs of “an incredibly successful development.” The business park was financed in part by $4.6 million in city funds, according to the Department of City Development. That amount is being repaid over 17 years through the business park’s property taxes. Once the amount is repaid, by 2021, the property taxes flow to the city and other local governments. Real Estate Recycling also received $600,000 in cleanup grants from the state Department of Commerce and U.S. Environmental Protection Agency.
Feb 23rd, 2016 by Jeramey Jannene
Tough-on-crime Donovan had own run-ins with the law
Over the years, Milwaukee Ald. Bob Donovan has melded his no-nonsense approach with a law-and-order platform. Donovan — who squares off against Milwaukee Mayor Tom Barrett for the city’s top job on April 5 — is just a regular guy standing up for local authorities combating crime. Except when it comes to his own issues. For instance, when he was in his 30s, Donovan was cited for disorderly conduct for peeking through a hole in a partition between restroom stalls in a men’s room at the University of Wisconsin-Milwaukee. Then, in his 40s, Donovan agreed to pay a $2,500 fine and to avoid any involvement with nonprofits for two years as part of a deal in which federal authorities dropped a misdemeanor fraud charge against him. More recently, the four-term Common Council member has hired as his campaign’s social media director a guy who was convicted in 2012 of three theft-related charges for trying to bilk Milwaukee Journal Sentinel subscribers. The staffer also is the subject of several tax warrants. No one argues that these are the most important issues in the campaign. But all of the incidents are getting mentioned regularly on blogs, Facebook and other websites. Instead of letting them percolate beneath the surface during the mayor’s race, I talked to Donovan about all three incidents so he could provide his side of the story. At the time, the south side alderman said he “appreciated” being asked directly about the matters. “I suspected these things would come up, and if you’re the guy to bring them up, then God bless you,” said Donovan, 59, shortly after being endorsed by the Milwaukee Police Association. “I guess everything is fair in love and war — and politics.” In each case, however, Donovan challenged details in police or court records or downplayed the significance of the events. Even so, he addressed each in a gracious and matter-of-fact way. Let’s start with his 1992 disorderly conduct citation. According to a Journal Sentinel story in 2000, Donovan was observed by a UWM police officer “peeking through a hole the size of nickel in a partition between two restroom stalls” for about 10 minutes, the police record stated. The report said: “Donovan stated that he has frequented Mitchell Hall restroom for years for the purposes of either watching men masturbate, or to have sex with men in the restroom.” Donovan did not contest the ticket, paying the $93 fine. Asked about the matter last month, Donovan said he did not see the information in the police report when he was ticketed, adding that he never said what he was quoted as saying. Asked if he thought the cop made it up, Donovan said, “I have no idea where that came from.” According to Donovan, he stopped by Mitchell Hall, a graduate studies building, during a work break on June 19, 1992, to see if there were any night classes he could take. Donovan, who was 36 at the time, was working for Batzner Pest […]
Feb 23rd, 2016 by Dave Reid
Long-stalled trial in massive coupon fraud case hits another snag
After nine years, a massive coupon fraud case in federal court will have to wait a little longer for a resolution. An expected three-week jury trial for the last two defendants, Thomas Balsiger and James Currey, was scheduled to begin Tuesday but hit a snag when Balsiger went to a Milwaukee hospital early in the morning after experiencing chest pains. U.S. District Judge Charles Clevert was told of Balsiger’s health problems in court Tuesday. The judge issued an arrest warrant for Balsiger, ordering U.S. marshals to confirm Balsiger’s location and determine if he is able to appear in court. He later withdrew the warrant after Balsiger’s serious medical condition was confirmed at an afternoon hearing. Another status hearing was set for Monday. Clevert also decided against severing the cases of Balsiger and Currey, who appeared in court Tuesday ready to proceed, with his attorney, James Darnell. Prosecutors have said they would prefer to have one trial rather than procuring more than 30 out-of-state witnesses for two separate trials. “We want to do this case once and we want to do it right,” Assistant U.S. Attorney Kelly Brown Watzka said. Balsiger and Currey are both charged with numerous counts of fraud and conspiracy. Other defendants earlier reached plea agreements. Balsiger, of El Paso, Texas, who is the former CEO of International Outsourcing Services, chose to represent himself after his attorney died in 2014, though the court has provided a lawyer, Patrick Coffey, to help as needed. Coffey appeared on Balsiger’s behalf Tuesday and said Balsiger was admitted to the hospital. In March 2007, a grand jury in Milwaukee indicted the nation’s biggest coupon processor and nearly a dozen people, including company executives, alleging they stole $250 million over 10 years. According to court documents, executives from International Outsourcing systematically defrauded manufacturers and retail stores across the country by cashing coupons they knew were not used by customers. Prosecutors say the defendants used “chop crews” to cut out coupons and put them in concrete mixers to make them look worn and submitting them for reimbursement. Balsiger has argued investigators don’t understand the coupon business and alleged prosecutorial misconduct. The company mixed coupons from small and large retailers for convenience, not fraud, he contends. Prosecutors have countered that it is a clear case of fraud. A key piece of evidence appears to be a memo from December 2005 in which Balsiger is alleged to have admitted coupons were being diverted. Clevert earlier ruled that the memo was admissible evidence in the trial. The case started in Milwaukee in 2001 when the FBI here began investigating a large coupon-redemption check sent to a small store that didn’t even accept coupons. Since the indictment was handed down, two judges on the case have moved into semiretirement, a U.S. attorney has come and gone, a two-term president has nearly run his course, one of the lawyers has died and the case has gone to the appeals court, twice. John Diedrich of the Journal Sentinel staff contributed […]
Feb 23rd, 2016 by Dave Reid
Three Milwaukee chefs up for 2016 James Beard Foundation Awards
Three local chefs — Justin Carlisle, Thomas Hauck and David Swanson — along with some Madison chefs have been named semifinalists for the 26th annual James Beard Foundation Awards. Included in the Best Chef: Midwest category, Carlisle operates Ardent, an east side Milwaukee restaurant offering classic meals culled from his family farm in Sparta. Carlisle is a winner in the Milwaukee Business Journal’s 40 Under 40 Awards for 2016. Hauck is owner and chef of c. 1880 in Milwaukee’s Walker’s Point neighborhood, a restaurant born from his vision of presenting farm fresh produce and food from local artisanal farms. Hauck graduated from the Culinary Institute of America in New York and honed his skills in France. Swanson operates Braise on South Second Street in Milwaukee, a restaurant with a mission “to reconnect people with their food through teaching and advancing community-based food issues.” Carlisle and Swanson also were semifinalists for last year’s Beard awards, sometimes called the “Oscars of Food.” In 2014, Sanford Restaurant chef-owner Justin Aprahamian of Milwaukee won the foundation’s Best Chef: Midwest award. Others from Wisconsin making the 2016 semifinalists list in the Best Chef: Midwest category are Dan Fox of the Heritage Tavern, Madison, and Jonathan Hunter of Forequarter, also in Madison. In addition, Tory Miller of L’Etoile in Madison, who won Best Chef: Midwest category in 2012, was named a semifinalist in the Outstanding Chef category. More than 20,000 entries were received for this year’s James Beard Foundation Awards. Final nominees will be announced March 15, with awards handed out in restaurant, chef and restaurant design categories on May 2 during the James Beard Awards Gala at Lyric Opera of Chicago.
Feb 17th, 2016 by Dave Reid
Ald. Joe Davis posed with gangbangers in Facebook post
All the major candidates for Milwaukee mayor say the city has a serious gang problem. But only one — Ald. Joe Davis — thinks the problem is that gangbangers don’t get enough love and understanding. Believe it. In a stunning post on his mayoral Facebook page last year, Davis published two photos of his meeting with the Wild 100s — or Wild Hunnits — gang at a makeshift memorial for a member who was gunned down in a botched armed robbery. Davis then expressed his affection for the members of the notorious gang,which police have accused of a wide range of criminal activity, including carjackings, drug trafficking and homicide. Gang leaders are known for making rap videos to recruit members. “I have spent the last month building trust with these young men that they call ‘The Wild 100s,'” Davis wrote in the July 25 post. “We judge without knowing their true story and unfortunately we judge them by the mistakes they have made in life, and not on their true potential.” He finished the lengthy post: “I may not be able to save them all, but I’ll die trying. One thing is for sure. Uncle Joe loves you.” This week, Davis — one of the three major mayoral candidates — defended the post, saying he was using “unconventional” methods to try to reach out to Milwaukee’s troubled youth. He said he has no intention of removing the pictures. “If I’m able to reach out and let them know that the path that they’re on is not right — and if I’m able to get them to start thinking rationally — then I think that’s good for the city of Milwaukee,” Davis said. A campaign spokesman for Milwaukee Mayor Tom Barrett isn’t so sure it’s that easy. Patrick Guarasci, a Barrett campaign adviser, said the Wild 100s are a “very violent gang” responsible for creating mayhem in the city by trafficking in illegal guns and drugs. “It’s frankly unbelievable and completely irresponsible,” Guarasci said of Davis’ actions. “One of the main tools this gang uses to recruit new members is social media. He might as well appear in a commercial for them.” The third major mayoral candidate, Ald. Bob Donovan, is running on a law-and-order platform in Tuesday’s primary. The top two finishers will advance to the April general election. Donovan declined to comment on Davis’ association with the Wild 100s, which is based on the city’s northwest side. Last year, Milwaukee police arrested scores of Wild 100s members during two major sweeps of the city’s streets. The gang, which migrated from Chicago through Racine, has been in Milwaukee for the past couple of years and has popped up in other Midwest cities. Milwaukee Police Chief Edward Flynn referred to the group as “a lot of bad guys” during an April 2015 news conference. “This group has been involved in an extraordinary amount of auto thefts, armed robberies, shootings, and even homicides,” Flynn said. Members of the Wild 100s were linked […]
Feb 12th, 2016 by Dave Reid
Apartments, retail proposed along National Avenue in Milwaukee
A four-story building with 56 apartments on West National Avenue in Milwaukee could mark budding local developer Brandon Rule’s first ground-up project. Rule, 27, is a past graduate of the Associates in Commercial Real Estate educational program who also has trained through the Wisconsin Housing and Economic Development Authority. He currently is working in lending and finance with Forward Community Investments and the Community Reinvestment Fund. But meanwhile he is lining up his first developments in the Milwaukee area. “I’ve been interested in it and for the past five years I’ve really been developing my craft and cultivating my relationships,” said Rule, president of Rule Enterprises LLC in Milwaukee. He is proposing a project at West National Avenue and South Seventh Street that would have 56 apartments, 47 of which would be reserved for low income residents. Rule applied for $561,100 in WHEDA low-income housing tax credits to finance the development. If he is awarded the credits, the project could start construction later this year or in early 2017, he said. Horizon Development Group, Madison, is a co-developer on the project, Rule said. The development would cover the block bordered by National Avenue, West Pierce Street, Seventh Street and Interstate 43. The developer would buy it from current owner El Rey Enterprises LLP. It is on the western side of the active Walker’s Point neighborhood. Rule said he grew up about 20 blocks away from the property in the Clarke Square neighborhood. “I wanted to preserve some of the affordable housing options in Walker’s Point,” Rule said. “I could do a market-rate project there.” The apartment building would be L-shaped and line National and Seventh, Rule said. There would be first-floor retail space along National Avenue, and on Seventh Street some three-bedroom apartment units would have front doors opening onto the sidewalk, Rule said. The apartments would have surface parking on the block. Rule said he is considering uses for the northwestern portion of the block, including potentially an indoor futsal court. That development, if it moves forward, would be built in a second phase after the apartments. “The immediate residents of Walker’s Point and the surrounding residents are interested in that,” Rule said.
Feb 3rd, 2016 by Dave Reid
Top campaign aide to Chris Larson resigns amid criminal probe
A third top aide has quit state Sen. Chris Larson‘s campaign for Milwaukee County executive in the wake of a criminal investigation of the aide. Michael Wilder, 30, resigned on Wednesday afternoon as political outreach director for Larson’s campaign, said Josh Kilroy, the campaign manager. Wilder, who has held the position since late November, was paid $5,000 a month — though the specific sum is not disclosed on Larson’s latest campaign report. “He said he had a personal matter that demanded his full attention,” Kilroy said. He added, “He was not fired.” Wilder could not be reached for comment by phone or at his Tosa residence on Wednesday evening. Larson, a Milwaukee Democrat, is challenging Milwaukee County Executive Chris Abele, also a Milwaukee Dem. Earlier on Wednesday, Kent Lovern, chief deputy district attorney for Milwaukee County, confirmed that a case involving Wilder had been referred to prosecutors. Lovern would not discuss the details of the case. “The matter is under review in our office,” Lovern said. Sherwin Hughes, host of “The Forum” talk show on WNOV-AM (860), discussed a “prominent black leader” who Hughes said was under investigation by authorities for his relationship with a teenager. Hughes did not name the black leader. Several sources confirmed that he was talking about Wilder. Kilroy said it was his understanding that Wilder’s situation was discussed on Hughes’ show, though Kilroy said he was unaware of any details. “I’ve never dealt with this particular situation before,” Kilroy said. “Life happens.” Late last year, two other Larson staffers — campaign manager Rick Coelho and field director Maureen Dunn— exited Larson’s campaign without explanation. Insiders said Wilder began work with Larson’s campaign around Nov. 23 during the transition in campaign managers. Campaign records show Wilder was paid less than $200 last year for consulting work. But Kilroy said Wilder was being paid for his staff position through the state Democratic Party, which he said was acting as the campaign’s payroll manager. Kilroy said Wilder was hired as a senior staffer making $5,000 a month. He said the sum is disclosed on state Democratic Party filings. Previously, Wilder had worked for a handful of liberal groups, including Wisconsin Voices, Wisconsin Jobs Now and Citizen Action of Wisconsin. He also served as legislative assistant to former Milwaukee County Supervisor Eyon Biddle and constituent liaison for then-U.S. Sen. Russ Feingold, a Wisconsin Dem.
Jan 28th, 2016 by Dave Reid
County narrowly approves Park East project’s final phase
A proposal approving the final phase of the Avenir mixed-use development in downtown Milwaukee’s Park East strip narrowly received a preliminary approval from county officials Monday. The County Board’s Committee on Economic and Community Development recommended approval on a 4-3 vote, with one opponent questioning how much the Avenir’s developer paid the original developer to take over the project. The full board is to review the resolution on Feb. 4. Wangard Partners Inc. plans to begin work within the next two months on the project, said Wayne Wiertzema, president. The firm opened the Avenir’s $20.3 million first phase, with 104 apartments, 7,000 square feet of commercial space and a parking structure, at 1437 N. Jefferson St., in 2014. It is 95% leased, Wiertzema told committee members. Wangard plans to develop a $16.5 million second phase, a five-story building with 82 apartments, along N. Milwaukee St., and a $14.7 million third phase, a five-story building with 64 apartments and 4,700 square feet of retail space, fronting E. Ogden Ave. The average monthly rents would be $1,200 to $1,300. The development agreement approved by the committee gives Wangard until March 2018 and July 2018 to complete those phases. The firm hopes to finish well before those deadlines. Under a new state law, the County Board’s approval is no longer needed for selling county parcels that are not parks. However, the board’s approval is needed to change the Avenir’s development agreement that was approved before that law took effect. The change allows a Wangard affiliate, Park East Two LLC, to take over development of the project’s third phase from the original developer, a group led by Chicago-area investor Richard Curto. That led Supervisor Marina Dimitrijevic to ask how much Wangard paid Curto’s group to take control of the project. Curto’s group bought the 3-acre site from Milwaukee County in 2007 for $2.7 million, just as the housing market was collapsing and the recession took hold. His firm, RSC & Associates, was unable to obtain financing for its planned apartment and retail project. Wangard took over the project in 2012, with the County Board approving that change for the development’s initial phases. Wiertzema declined to answer Dimitrijevic’s question, saying it was a private transaction. Dimitrijevic tried to delay a vote on the proposal, a motion that failed. She cited “unanswered questions” about how much Wangard paid Curto, and whether the county should have paid to buy back property from Curto’s group and restart the bidding process. Dimitrijevic then voted against the proposal. Other opponents were Supervisor Supreme Moore Omokunde, who wanted more information on which disadvantaged businesses worked on the Avenir’s first phase, and Supervisor Khalif Rainey. Supervisors Steve F. Taylor, Martin Weddle, Jim “Luigi” Schmitt and Willie Johnson Jr. supported the proposal. Meanwhile, Wangard plans to develop a $47 million mixed-use development just west of the Avenir. That seven-story building, with 250 apartments and 70,000 square feet of commercial space, would be on a vacant lot bordered by N. Water St., N. Broadway, […]
Jan 25th, 2016 by Dave Reid
MU Law School legend Ghiardi had sharp wit, high standards
In a story that has become famous in local legal circles, Marquette Law School professor James Ghiardi was asked whether Joseph Kearney was too young to become dean of the school. “It’s a problem,” Ghiardi said, “but it won’t last.” The anecdote demonstrated his sharp wit, combined with his ability to summarize a point. “He could just demolish an argument in a single sentence,” said Kearney, now dean for 13 years. Ghiardi, known for his tough — and invaluable — training of young lawyers, died Jan. 18 at the age of 97. Born Nov. 10, 1918, the day before World War I ended, Ghiardi was a faculty member — active or retired — of the law school for some 70 years. He was a full-time faculty member from 1946 until he assumed emeritus status 47 years later, and was known as the legendary professor in Marquette Law School’s history, Kearney said in an interview. Ghiardi was well known for his intellect and high standards. “He was especially tough on first-year students when he was trying to introduce them to the legal profession and the rigor that he thought they needed to bring to the profession,” Kearney said. “Then, as their law school careers would go along, and they became closer to being colleagues in the profession … I wouldn’t say he would relax with them, but he would treat them more as peers,” Kearney added. Ghiardi’s daughter, Catherine Miller, said her father “held everyone to high standards, starting with himself, and we all tried to live up to that in our own ways. But he was so loving and forgiving.” Ghiardi, the son of Italian immigrants, grew up in Negaunee, Mich., and was a 1940 graduate of Marquette University and a 1942 graduate of Marquette’s law school. A World War II veteran, he did not have medical training but was put in charge of a medical unit and then an evacuation hospital. He served in Europe with the Third Army under Gen. George Patton in the Battles of Normandy, Ardennes, Northern France, Rhineland, and Northern Europe. Ghiardi’s wife, Phyllis Ann Ghiardi, passed away Aug 28, 2012, at age 91. A nurse, she served with him at the evac hospital in WWII, with their unit treating more than 20,000 casualties, including those from the Battle of the Bulge. James and Phyllis were married Sept. 7, 1945, in Amberg, Germany. They spent their honeymoon on the Riviera in France before returning to the U.S. for their military discharge. A longtime resident of Whitefish Bay and Shorewood, Ghiardi is survived by a large family, including three daughters: Catherine Miller, Jeanne (James) Duffy and Mary (Richard) Merlie. James Duffy was one of Ghiardi’s students. Speaking of her father, Miller said: “He was the heart of our family. He was a caring and awesome father, grandfather and great-grandfather. He tied every aspect of our family together.” James Ghiardi Visitation is Monday from 9:30 to 10:30 a.m. at Church of the Gesu at Marquette. A funeral […]
Jan 24th, 2016 by Dave Reid
Biju Zimmerman
OnMilwaukee / Too Much Metal: How long have you been doing what you do? Biju Zimmerman: I’ve been involved with music for 23 years. I’ve been touring with Eric Benet for about seven years now, but started when I was 19 when I was hired by The Gufs to be their drum tech. OnMilwaukee / Too Much Metal: What is your favorite Milwaukee season? Zimmerman: Out of the two seasons in Wisconsin – construction and winter – I’ll take winter because I live in Wisconsin. OnMilwaukee / Too Much Metal: What neighborhood do you live in? Zimmerman: On point in Walker’s Point – “on the block.” OnMilwaukee / Too Much Metal: What is your favorite or least favorite smell in Milwaukeee? Zimmerman: Bradford beach mid-August is truly god awful. OnMilwaukee / Too Much Metal: What is your hope for Milwaukee? Zimmerman: I’m hoping I can be a stepping stone in putting Milwaukee on the music map. Milwaukee: the next Seattle. Ha. OnMilwaukee / Too Much Metal: When / how did you fall in love with Milwaukee? Zimmerman: When I was touring with my old band Camden and playing all these great cities with great bands, Milwaukee was always the “big little city” that I loved coming back to. OnMilwaukee / Too Much Metal: What is your one guilty pleasure? Zimmerman: Ever get chills from a song whatever be your flavor? For that one reason. Turn it up to 11. OnMilwaukee / Too Much Metal: If you could high five one Milwaukeean, who would it be? Zimmerman: My brother, BJ Seidel. We’ve been best friends since fifth grade when I moved to Racine. We learned about music together. We taught ourselves how to play music and then played in amazing bands that toured nationally. He now owns Burnhearts and Goodkind. So stoked for him.
Jan 24th, 2016 by Dave Reid
Germania apartments development seeking $1.5 million from city
The owners of downtown Milwaukee’s Germania Building are seeking $1.5 million in city funds to help finance its proposed $22 million conversion to apartments. The eight-story office building, 135 W. Wells St., has been vacant since the end of December, when the last remaining tenants moved out. The historic property was sold just over a year ago to Germania Real Estate Venture II LLC for $3.1 million. That group, affiliated with developers Cardinal Capital Management Inc., Vangard Group LLC and Endeavour Corp., initially planned to convert the building into 74 affordable apartments. The developers are now planning to create 90 apartments, including 46 market-rate units and 44 affordable units, said Erich Schwenker, Cardinal Capital president. The affordable units would be rented at below-market rates to people earning no more than 60% of the local median income. That restriction is required because the developers have received federal affordable housing tax credits to help finance the project. The remaining one- and two-bedroom apartments would have monthly rents of around $1,100 to $1,500, Schwenker said. Financing for the development includes state and federal historic preservation tax credits. The Germania was built in 1896. But the estimated conversion costs are higher than expected, and the developers are seeking $1.5 million in city cash, Schwenker said. Those funds would be repaid to the city through new property taxes from the building’s improvements. Ald. Robert Bauman, whose district includes downtown, is opposed to the city financing request. “They’ve already made their deal, and discovered they’re short,” Bauman said. “This is a bailout.” Department of City Development officials are still doing their analysis of the financing request, said Development Commissioner Rocky Marcoux. He said city funds, if approved, would be used for restoring the building’s exterior. The developers hope to begin converting the building this spring if the Common Council and Mayor Tom Barrett approve the financing plan, Schwenker said. The renovations would take about a year to complete, he said.
Jan 21st, 2016 by Dave Reid
