MILWAUKEE – Milwaukee Mayor Cavalier Johnson and other city leaders announced new Tax Supplementary Financing (TIF) investments Thursday, Nov. 3, that will fund traffic calming and public infrastructure improvements in the city.
A news release says TIF’s proposed investments will target public infrastructure and plaza improvements along North Avenue between Humboldt and Prospect, where pedestrian and cyclist safety is a concern. Investments will also focus on the area surrounding the recently announced world headquarters of Fiserv, Inc. in downtown Milwaukee.
The proposed TIF investments will require approval from the Joint Review Panel, the City of Milwaukee Redevelopment Authority and the Milwaukee City Council.
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David Smulyan, Executive Director of East Side BID #20, released this statement:
“North Avenue is a central commercial corridor that is critical to the commercial and residential vibrancy of the East Side. It runs through neighborhoods where many Milwaukeeans live, work and play. We, as BID, believe that initial improvements of the streetscape on North Avenue can serve as a catalyst for additional improvements along the avenue.
“We have seen in the United States and around the world that local businesses thrive in pedestrian and bicycle areas. Business and commercial owners and BID residents are eager to see infrastructure improvements that improve road safety and create new public spaces. We firmly believe that these improvements will have a positive impact on our business district and the surrounding community.”
The press release says that to date, $18.4 million in approved TIF investments have been deployed for public infrastructure projects that address reckless driving and improve multimodal transportation throughout Milwaukee.