A proposal to provide city financing help for The Mayfair Collection, a retail development planned for Wauwatosa's Burleigh Triangle area, is progressing.
The Common Council's Budget & Finance Committee recently met in closed session to discuss negotiations over the financing proposal with Chicago-based HSA Commercial Real Estate Inc., which would develop The Mayfair Collection.
Another closed session is to occur next week, said Paulette Enders, city economic development director.
The state Open Meetings Law allows local governments to meet in closed session to discuss such negotiations. Any votes must be made in open session. And, so far, city officials haven't yet created a final financing proposal for the Plan Commission and council to consider, Enders said.
"We continue to work with city staff on negotiating our TIF proposal," said Tim Blum, HSA.retail division managing director.
Meanwhile, the Plan Commission at its Monday meeting will consider a request from HSA to divide the development tract, at 11200 W. Burleigh St., into different parcels. That's a routine step taken to prepare a large tract for development.
HSA hopes to break ground in June, and have a grand opening for the Mayfair Collection in fall 2013. The site is east of Highway 45 and north of W. Burleigh St.
HSA owns the former Roundy's and Kohl's supermarket warehouses totaling about 62 acres at the site. A 7-acre warehouse property operated by Total Logistic Control is in the middle of the site, and HSA Commercial hopes to eventually include the property in its project.
In May, the Common Council granted conceptual approval for the Mayfair Collection. At that time, city officials began negotiations with HSA on its request for $8.7 million in city funds to help pay for the project.
In January, Blum told me HSA is not yet announcing tenants, but has enough commitments that the firm's executives expect the project to proceed.