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Waukesha proposes financing help for Oberlin Filter

Land and Space

Journal Sentinel business reporter Tom Daykin talks about commercial real estate and development.

May 08, 2014
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By Tom Daykin of the Journal Sentinel

May 08, 2014 0

A Waukesha company that makes industrial filters would receive $975,000 in city financing help for a planned manufacturing facility, under a new proposal.

Oberlin Filter Co. is planning a 90,000-square-foot building for around 9 acres at 809-831 Silvernail Road, just west of Blue Mound Road. That would replace a 50,000-square-foot building at 404 Pilot Court.

City officials are considering the creation of a tax incremental financing district that would include the planned development site, said Steve Crandell, director of community development.

That 25-acre financing district would be used to provide $975,000 to help cover Oberlin's site preparation costs, including demolition, grading and environmental cleanup, Crandell said Thursday.

The funds would be repaid through new property taxes from Oberlin's $6.5 million facility, Crandell said.

That payback is expected to occur within 12 years, he said. Once that happens, the new property taxes would go to the city, its school district and other local governments.

The proposed tax financing district would include other nearby sites, and could be used for other developments, Crandell said. 

The Plan Commission is to vote at its Wednesday meeting on whether to recommend the Oberlin financing plan to the Common Council. The council is to review the proposal on June 3.

Also, the commission is scheduled to vote on final site plan approval for the Oberlin project.

The company plans to begin construction this fall, with completion of the new building by summer 2015.

Oberlin, which sells its products to companies such as Harley-Davidson Inc. and Du Pont Co., is land locked at its current building, and needs more space.

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About Tom Daykin

Tom Daykin covers commercial real estate and development.

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Helpful Links and Resources

Check the Milwaukee Assessor’s Office website, which includes tools to look up property assessments.

Find property assessments for other communities throughout the state at AssessorData.org.

The Milwaukee Department of City Development website includes information on the city Plan Commission and Redevelopment Authority.

The Commercial Association of Realtors Wisconsin offers information on commercial realtors and real estate.

The Milwaukee chapter of the Institute of Real Estate Management serves the needs of real estate management professionals

The Wisconsin chapter of the NAIOP Commercial Real Estate Development Association aims to serve developers and owners of commercial real estate.

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The Land and Space blog was recognized by the Society of American Business Editors and Writers in the blog category for dailies with circulation between 200,000 to 500,000.

The judges said, "Daykin’s aggressive reporting and accessible, explanatory writing make him a must-read for his tight-knit and highly engaged audience."


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