Tell Bayside Trustees NO TIF NO GIFT

Bayside WI Village Trustees  want to provide a 9.5M TIF to  Cobalt Partners, LLC and La Macchia Holdings, LCC to build multiple apartment, townhouses, commercial, and retail buildings along with a parking structure, library and future hotel as part of a $ 78M+ project in a prime location in our semi-rural community.   

https://www.baysidewi.gov/documents/developer-funded-financing/

The original PUD (Planned Urban Development) rezoning request submitted on August 6, 2021 states 70-75%  of  the proposed land is reserved for construction of streets, parking, residential and mixed-use structures, or other impervious surfaces and doesn't mention any costs.

https://storage.googleapis.com/proudcity/baysidewi/uploads/2021/08/PUD-Zoning-Petition-Submittal-Compressed-FINAL-8-6-21.pdf

The developer Scott Yauck and Bill LaMacchia are likely to realize a profit between 14 and 17% of the project without any financial risk, and more when they flip it to investors.   

 

Village officials tout the tax benefits to the taxpayers when in reality there is no benefit outside the development area for up to 27 years.  The increased costs for village services (DPW, fire, police, sewer, schools) will be borne by the taxpayers until the TIF is repaid.

 

We have paid for the yard signs that are  provided at no charge to our fellow North Shore residents  who request them from www.nobayside.tif.com 

 

We thank those who have contributed towards our costs and are simply asking for small donations between $ 5.00 and $ 50.00 to help defray the difference.

 

Once the costs are covered this GoFundMe will be discontinued unless we move forward with legal action.

 

The Bayside residents are against providing the developer with financing for this  project.

We thank you for stepping up.

 

                                                        Team Bayside