The City of Milton Common Council approved Nov. 4 a conditional use permit (CUP) and a tax incremental financing (TIF) development agreement for Catch the Wave Swim Club, Inc.
Troy and Debora Stoffregen, of South Beloit, Ill., according to the CUP application, are planning to build a 7,200-square-foot building, which will house a private indoor swimming facility and caretakers residence, on just over one acre of city-owned land on the southwest corner of East High Street and Gateway Drive, City Administrator Al Hulick said.
The CUP application is to allow for the construction of a caretakers residence in which the owners plan to live, he said.
The land on which the project will be built is located in TID No. 6, Hulick said. The site plan was approved by the city’s Plan Commission on Oct. 20, contingent upon a public hearing which was held by the Plan Commission Nov. 4. There were no participants at the public hearing, Hulick said.
The site plan meets ordinance requirements, and was approved with the contingency that a utility plan, DNR erosion plan, and, if required by the city engineer, a stormwater maintenance plan are submitted, a Nov. 4 memo from Director of Public Works Howard Robinson stated.
TIF development agreement In a separate action, council approved a TIF development agreement for Catch the Wave Swim Club, stipulating that the city will sell the land to the developer for one dollar and in return, the developer will generate $4,060 of annual taxes over a 10-year period.
“That’s the value of the land that would be, in essence, paid back,” Hulick said, adding that he believed it was “highly probable” that the project would generate more than $4,000 in taxes on an annual basis.
“This parcel is small and has been very difficult to market. Since I’ve been here, it’s been vacant for a long time. I think this is a good use in this area and one that I think will be a benefit to the community,” Hulick said.
Construction on the project is expected to begin in 2021, with a completion date of December, 2021.