KK Flood Mitigation Plan, Agency Partnership, Will Boost South Side Property Values
An ambitious plan to raze some South side properties in the KK River floodplain to preserve and enhance the value of a greater number of properties - - and to spur development attracted to the area as the threat of flooding is mitigated - - won preliminary approval at the committee level Monday at the lead agency, the Milwaukee Metropolitan Sewerage Commission.
The Milwaukee Redevelopment Authority had also signaled support for the plan, and with support from neighborhoods, combined with probable funding the State of Wisconsin, this unusual and forward-looking plan should keep moving forward through a number of pending approvals.
There's good data nationally to show the economic benefits from what might at first be seen as purely negative - - the razing of some properties - - but flood-prone South side neighborhoods should instead be stabilized, then enhanced, by this creative, inter-agency approach that should attract city development where it is needed.
2 comments:
While the surrounding homes may see increases in their prop value, I'd still like to know if the net prop value change is positive. Local infrastructure almost always yields positive overall effects, but not necessarily when there's lost tax base. I'm skeptical.
Let's just hope those who lose their homes will relocate within the city.
Perhaps MMSD could offer an extra grant if the residents losing their homes relocate within Milw.
I do hope MMSD at least brings this as a communication file to the common council, as it is my understanding that as of now they don't plan to do so.
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