MSP in New Berlin receives WHEDA Tax Credits

Thanks to The Political Environment and Land and Space , we now know that the MSP proposed development has received tax credits from WHEDA.

I believe the New Berlin Plan Commission was hoping that WHEDA would not award tax credits to the MSP development, thus making the whole headache go away, even if temporarily.  Now MSP has to sell those tax credits, something which is not guaranteed.  I've heard of developers having to return tax credits after being unable to sell them for enough money to fund the development.

The next step is the next meeting of the Plan Commission.  You can see the minutes from the last meeting which, unfortunately, does not include the colorful commentary from the "Privilege of the Floor."   MSP has to submit their revised plans which does not include the various waivers New Berlin granted and then revoked after the outcry.  MSP stated that making those changes would not be an issue.

The next Plan Commission will be on Monday, July 12 at 6 PM. However, keep checking the Plan Commission page for updates, to make sure the MSP development is on the agenda for that meeting.