Senior care eyed for Wall St.
98-unit structure would fill in largely vacant Tapco site
After more than a year of planning, a senior-care facility in the village of Elm Grove has two hurdles left to jump before the development is finalized.
The MSP Real Estate planned development is a 98-unit senior-care facility. The complex would contain a mix of residential-care apartments and community-based residential facilities, as well as memory-care units. It will be located in TIF District No. 2 at 800 Wall St., the former Tapco headquarters that sits mostly vacant.
The development has been approved by the Plan Commission, Building Board and Public Works Committee; however, there are still two major steps left in the approval process, Village Manager David De Angelis said Tuesday during a development update presented to the Village Board. MSP requested TIF financing, which has yet to be approved by the Plan Commission, Joint Review Board and ultimately the Village Board.
The Village Board also would need to approve a conditional-use permit and a developer's agreement that have both already made it through the Plan Commission. De Angelis is anticipating the development be approved by September so work can begin on the facility.
"We are trying to get this potentially accomplished so they can get out and get some work done this year," he said.
A public hearing for TIF district financing will be held before the Plan Commission on Sept. 6 following a Joint Review Board meeting Sept. 4 to tie up loose ends.
Currently, the village is working on an amendment to the TIF district and the details of the requested financing. MSP Real Estate also has requested municipal water from the city of Brookfield to service the senior-living facility.
Trustee John Meser said Tuesday the Public Works Committee recently has met in open and closed sessions to discuss the municipal agreement for retail water service. The Village Board met in closed session Tuesday to discuss the agreement, but no action was taken.
"These are really the final pieces for (the development,)" De Angelis said. "The last piece is we are still working through the municipal water issue with the city of Brookfield and MSP to put all the pieces together for that."
The city of Brookfield has requested that the proposed water system be upsized to a 16-inch water main to accommodate future water needs within the city. The cost of upsizing is about $87,000.
The cost of water would be borne by the TIF district, if approved. According to De Angelis, Elm Grove could be accommodated by a 12-inch main, but a 16-inch main would be needed as a transmission main for Brookfield should it ever be extended to North Avenue. The water-main extension would be paid for by the TIF, said De Angelis. There will not be special assessments and anyone connecting in the future would pay for that connection.
The new project is projected to have a value of $7.25 million, which is $6 million more than the current value. The increase in value and the taxes generated from that value is what the TIF will use to pay for the cost of water.
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