Steps are being taken in Two Rivers to add some more affordable housing.
On Monday, the City’s Plan Commission held a public hearing regarding the proposed Tax Incremental Financing District 17, which City Manager Greg Buckley says is located on the patch of land commonly referred to as the former Eggers West property.
He told Seehafer News that area located between Big Loads Laundry on Madison and the old railroad bridge was “Originally a Miro Building and a vacant property next to it.”
Scott Crawford Development out of Milwaukee has submitted a proposal to construct 54 affordable housing units on the land.
“They are needing some assistance in filling a gap in the financing on that estimated $10 million project,” Buckley said. “This TIF District would propose to provide a $500,000 developer grant.”
Another aspect of this project involves the previously mentioned railroad bridge.
“The city is pursuing the acquisition of that right of way. We have come to a price agreement with Canadian National,” Buckley explained. “If that line of funding is ultimately approved in the TIF, it could open the door for funding assistance for either the restoration and reuse of that old railroad bridge or its removal.”
The TID 17 proposal will go before the full City Council during their September meeting.
