The Village has received a request from a joint venture that includes LaMacchia Holdings, LLC and Cobalt Partners for consideration of a planned unit development (PUD) for specified properties west of Port Washington Road and North of Brown Deer Road. The summary below provides an overview of what a PUD is, the request the Village has received, as well as the required process for consideration.
A PUD is a request to establish zoning and development parameters within a defined geographic area. PUDs generally specify the type of uses, density, height, location and other various specific zoning, development, and municipal infrastructure parameters for future development. A PUD does not guarantee something will be constructed but rather establishes guidelines and places limitations on what can be constructed should the necessary approvals be granted.
While the request does not provide specific development plans (see explanation of PUD below), the potential mixed-use development could include:
- Constructing a new North Shore Library in Bayside;
- Significant Class A office building space;
- Luxury owner occupied and rental residential;
- Limited, local, destination-orientated retail;
- Restaurant/coffee shop(s);
- and more.
The request the Village has received has partitioned the area into two zones, Zone A and Zone B. Zone A consists of the western side of the proposed redevelopment area, closest to Interstate 43. Zone B encompasses the eastern side of the proposed redevelopment area, with its eastern boundary being the west side of Port Washington Road. The submittal requests development parameters in Zone A of no higher than 15 residential stories and in Zone B of no higher than 5 stories.
The process of establishing a PUD involves numerous steps:
- It starts with a pre-petition conference before the Plan Commission where the developer will provide an overview of the development parameters they are requesting. (June 18)
- After the pre-petition conference, the Plan Commission forwards the request to the Village Board who then refers the matter back to the Plan Commission for a recommendation. (June 25)
- At a subsequent meeting, the Plan Commission will hold an informal public hearing where public input is encouraged. (July 9)
- Once both of those meetings have concluded, the Plan Commission will again meet and if so inclined, formulate a recommendation to forward to the Village Board.
- If a recommendation from the Plan Commission is sent to the Village Board, the Village Board will then conduct a formal public hearing where public input is encouraged (August 15).
- Following the Village Board public hearing, the Board would then consider the planned unit development in conjunction with the drafting of a separate Development Agreement for consideration.
- If both a PUD and development agreement were considered and adopted by the Village Board, the petitioner would then need to receive subsequent approval(s) for each building and structure they would propose to construct within the PUD through a process defined in the PUD and Development Agreement.
The pre-petition conference before the Plan Commission was held on June 18 at 6 pm. The PUD petition will now be forwarded to the Village Board who then refers the matter back to the Plan Commission for a recommendation. The referral of the PUD request is scheduled for June 25 at 6 pm. The Plan Commission will hold an informal public hearing where public input is encouraged has been tentatively scheduled for July 9 at 6 pm.
Any requests for tax increment financing would be considered separately by the Community Development Authority. While communities in Wisconsin utilize tax increment financing (TIF) differently, depending on their circumstances, the Village has previously specified its desire for pay-as-you-go (PAYGO) TIF. PAYGO TIF places the financial risk on the developer. The Village and other taxing jurisdictions would remain whole on present day tax collections. Only after additional value and increment is created by new development or otherwise guaranteed would a petitioner receive TIF under parameters specified in a TIF project plan. The TIF project plan would need to be considered and adopted separate from the PUD and Development Agreement by the Community Development Authority, Village Board, and Joint Review Board. At the present time, no updated TIF request has been submitted and the Village is not considering the financial terms of the previous TIF submittal. No CDA meetings are scheduled at the present time.
As further updates become available, they will be published in the Bayside Buzz and on the village web site.