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A plan to provide $3.1 million in city funds for improvements along Historic Mitchell St., one of Milwaukee's oldest commercial districts, won approval this summer.
The Common Council's Zoning, Neighborhoods and Development Committee unanimously recommended approval for the proposal, which would fund street improvements and building repairs in an area both north and south of W. Mitchell St., from S. 5th St. to S. 16th St. The area would also encompass the commercial area south of W. Forest Home Ave., between S. 13th St. and S. 15th St.
The plan, proposed by the Department of City Development, is designed to help improve some key buildings, such as the Goldmann's building and the Modjeska Theatre, and help retain and attract businesses.
The city financing would pay for new streetlights and security cameras to help fight crime, especially graffiti and vehicle vandalism.
Also, neighborhood homeowners could seek $10,000 loans to make exterior improvements. And city funds also would be available to help renovate commercial buildings. The city funds would be repaid through property tax revenue generated within the area. It would take an estimated 18 years to repay those funds.
The proposal, which also won Common Council approval in September, comes as Goldmann's department store closed its doors on September 28. Business owner Don Kim plans to redevelop the building to house several retail stores, offices and a Goldmann's museum.
Also, a non-profit group that recently bought the Modjeska Theatre is preparing a campaign to raise $8 million to $10 million in private funds to do renovations. |