Oconomowoc planners endorse converting school into apartments

Mar 12, 2010 — Milwaukee Journal Sentinel

Laurel Walker

Mar. 11, 2010 (McClatchy-Tribune Regional News delivered by Newstex) -- OCONOMOWOC -- A plan to convert the former Oconomowoc middle school to 61 one- to three-bedroom apartments was unanimously endorsed Wednesday by the Oconomowoc Plan Commission.

The Common Council is scheduled to take action Tuesday, including rezoning the 7.8-acre site on Highway 67 north of I-94 from single- to multi-family. No member of the public appeared in opposition Wednesday, and two spoke in support.

Gorman and Co., based in Oregon, Wis., has said the project is contingent on getting federal tax credits targeted to affordable housing through the Wisconsin Housing and Economic Development Authority. In exchange for the credits, developers guarantee they'll rent to people who earn no more than 60% of the area's median income. Gorman's purchase of the school is contingent on its winning the tax credits, as well.

Applications for the credits are due WHEDA by March 26, and the decision is expected in June.

The Oconomowoc project is likely one of two that could also each get $140,000 in federal housing funds through two programs administered by Waukesha County.

The Community Development Block Grant Board on Wednesday agreed to divide available funds between the two projects that are ranked highest in Waukesha County by WHEDA.

Four projects had applied through the county but one -- the 60-unit Meadow Lane Townhomes in Waukesha -- was withdrawn by Real Estate Equities after a zoning change was recently rejected by the Waukesha Plan Commission in the face of neighborhood opposition. A second -- 80 units in Summit proposed by CommonBond Communities -- received a "neutral" response from the Town Board last week, which will earn it fewer WHEDA scoring points than local support would have.

The remaining projects in contention are the Oconomowoc school project and a 42-unit apartment building proposed on the Waukesha Family YMCA property, which would be targeted to people with disabilities. That Waukesha project has not yet appeared on a city planning agenda.

Newstex ID: KRTB-0130-42819076