The Milwaukee County Committee on Finance convened on June 18, 2025, to discuss key financial matters, particularly focusing on property taxes related to a new affordable housing development. The meeting, held in Room 203-R and live-streamed for public access, featured discussions on the financial implications of the project and the potential need for gap financing.

One significant topic raised was the property tax obligations of the new residential development, which is being constructed under the low-income housing tax credit program. A committee member inquired about the possibility of a payment in lieu of taxes (PILOT) agreement, similar to one established by a local hospital. However, it was clarified that the development would be required to pay full property taxes, estimated to be between $30,000 and $40,000 annually, based on its income.

Another critical point of discussion involved the feasibility study for the housing project, which indicated a potential funding gap of between $4.6 million and $5.9 million. Committee members sought clarity on how these funds would be sourced, with suggestions including city funding, state assistance, and private philanthropy. The committee acknowledged that not all funding sources had been identified yet, indicating ongoing efforts to secure the necessary financial support.

The meeting also included a citizen comment period, allowing residents to express their views on the housing project. This engagement reflects the committee's commitment to transparency and community involvement in local development decisions.

Overall, the discussions highlighted the financial complexities involved in the affordable housing initiative and the committee's proactive approach to addressing funding challenges while ensuring compliance with tax obligations. The next steps will involve further exploration of funding sources to bridge the identified financial gaps.