West Allis weighs creating a new tax increment district to help finance 92nd Street apartments

City officials review tax increment financing framework for redevelopment proposal

West Allis officials are evaluating whether to create a new tax increment financing (TIF) district to support a planned apartment development at the former Saint Aloysius site, 1405 S. 92nd St. The proposal has moved through multiple public meetings as the city’s Community Development Authority (CDA) and council committees reviewed purchase terms, project economics and the potential structure of a city-backed incentive.

The developer, identified in city materials as F Street 92, LLC, is seeking public participation through a developer-funded TIF arrangement capped at $13.15 million. Under this approach, project costs eligible for reimbursement would be paid upfront by the developer and repaid over time from new property tax revenue generated by the project within the TIF district.

Project scale, land transaction, and financing assumptions

As presented to city bodies in November 2025, the development under review is described as a roughly $37 million project with an anticipated assessed value near $31 million and projected annual property tax revenue around $600,000 once completed. City staff described the proposed sale price of the site as $860,000, with a previously issued CDA loan of about $990,000 expected to be repaid at closing.

Staff financial modeling shared with the CDA characterized the public participation as having a net present value of about $7 million. In the same briefing, staff estimated the developer’s capital stack would include approximately $26.18 million in borrowing and about $11.3 million in private equity.

How a new TIF district would function in West Allis

A TIF district is a defined area where incremental growth in property tax revenue—above the current baseline—is captured for a set period to pay eligible project costs tied to development or redevelopment. In practice, this can include site preparation, public infrastructure or other qualifying expenses depending on the project plan and the final development agreement.

In West Allis, the policy rationale frequently cited for TIF use is the city’s limited supply of vacant land and the higher costs associated with acquiring and clearing underused properties for redevelopment. That dynamic can make certain housing proposals difficult to finance without some form of gap assistance, particularly on sites that require demolition or environmental work.

Related city discussions on TIF capacity

Separate from the 92nd Street proposal, city staff have recently discussed amendments to existing TIF districts—including the use of surplus increment in one district to address obligations in others and to seed redevelopment and housing-related funds. Those deliberations indicate that West Allis is simultaneously managing existing TIF commitments while considering new ones.

Key decision points for the city include the final district boundaries, the reimbursable cost categories, the repayment timeline, and performance safeguards included in a development agreement.

What happens next

City consideration of a new TIF district typically proceeds through draft project planning, public notice and hearing requirements, and formal approvals. For the apartment proposal, the next steps center on finalizing deal terms and the project plan details needed to determine whether the proposed district can repay eligible costs within the allowed timeframe.

• Site: 1405 S. 92nd St., West Allis
• Developer: F Street 92, LLC (as identified in city materials)
• Requested TIF cap: $13.15 million (developer-funded structure)
• Estimated development cost: about $37 million