Aldermen have until July 15 to choose among three projects proposed for a 9-acre downtown site.
Developers presented their proposals this week, each of which would include a grocery store, condominiums and stores, officials said.
“Each proposal has its own flavor, and we’ll work with the three developers before making any decisions,” Ald. Dick Sayad said. Before any project could move forward, city officials would need to finish buying land within the site, which is north of Miner Street between Pearson and Lee Streets, officials said. A deal is nearly complete with the owners of Oehler Funeral Home, 555 Lee St., Sayad said.
The site is within a tax increment financing district. Tax revenue generated by the TIF site would offset an estimated $5 million the city will spend to buy the land, officials said.