Village of Sussex - Village official's more than 20 year dream of redevelopment of the Mammoth Springs Cannery Company site has moved another step closer to reality.
The Village Board tonight uanimously approved creating of a Tax Increment Financing (TIF) District that will generate real estate tax revenues to pay for public improvements that are part of Brookfield entrepreneur Arthur Sawall's plans to build a residential and retail complex at the corner of Main Street and Waukesha Avenue.
The TIF District will include a 40 acre triangular shaped area that extends from the triangle intersection of Main Street and Silver Spring Drive east to Waukesha Avenue. A committee of local government and school districts whose boundaries include the TIF District are expected to give final approval to the district next week.
The Plan Commission will hold a public hearing on March 21 on Sawall's proposal to build three three-story high end apartment buildings with under ground parking and two retail buildings on the site. The Village Board is scheduled to give final approval to the project in April. Sawall said he hopes to break ground in May or June.