Mammoth Springs Taxing District Clears Final Hurdle

It's finally, well, final. The taxing district to provide funding for the mammoth-sized Mammoth Springs redevelopment is a go. 

The Joint Review Board on Monday gave the final green light for the new district, which will allow the village to advance funds to kickstart the project and use increased property tax revenue to offset the cost. The review board consisted of representatives from all taxing entities in Sussex. 

The project plans will now go through the traditional approval process. 

The village created a taxing district to help provide financial assistance for a $21 million housing and retail project near Main Street and Waukesha Avenue. The village will invest roughly $4.7 million through the life of the project if developer, Arthur Sawall, meets construction benchmarks.

Read more about the project on Sussex Patch 

Construction of two 30-unit apartment buildings at Mammoth Springs Cannery Company would likely begin in May if no roadblocks get in the way. 

The development will eventually include five residential buildings, either three or four stories high, with one- and two-bedroom apartments ranging renting for $945 to $1,300 a month.

Sawall purchased the property in January 2010, and has plans to construct a seven-building complex with a mix of retail and residential spaces. The construction would occur in phases with two "high-end housing" buildings coming first. According to the proposal, new multifamily or commercial buildings would arise annually from 2014 through 2019.