The Village of Sister Bay is one step closer to adding attainable housing to the community after the village board approved a memorandum of understanding with Mosaic Development.
The village board reviewed and approved preliminary plans for an attainable-housing development on a 12.6-acre parcel of land adjacent to Highway 57 and directly south of the Northern Door Children’s Center.
“Approving the memorandum of understanding allows the village to move forward with the developer and engineers to the next steps of the project,” Village Administrator Beau Bernhoft explained.
The project would bring 45 attainable-housing rental units to Sister Bay with the help of Wisconsin Housing and Economic Development Authority (WHEDA) tax credits of $718,283 annually for the next 10 years. WHEDA awarded those credits earlier this year.
The one-story building would be constructed with one-, two- and three-bedroom floor plans; garages; individual entrances; and monthly rents between $332 and $800.
The memorandum of understanding that the board approved – Vivian Nienow and Pat Duffy cast dissenting votes – committed the village to facilitating the development with $460,000 in PRAT funds for water and sewer extension, storm-drainage extension, public-road extension and engineering services for public infrastructure planning.
The project’s next step will be Mosaic Development presenting final plans to the Village Plan Commission, Bernhoft said, which is likely to take place this fall. A groundbreaking is anticipated for spring 2022.