Elm Grove amends TID development pact for apartments
Elm Grove villageCity · Elm Grove, WI- Disclosed value
- $8,466,000 TID Grant; $150,000 escrow deposit; $1,400,000 letter of credit security referenced; potential reduction of letter of credit to $530,000
- From agenda
- Document date
- Aug 26, 2025
The 30-second brief
The Village of Elm Grove and Caroline Heights Apartments LLC executed a Third Amendment to their Development Agreement that revises the timing and conditions for payment of an $8,466,000 TID Grant tied to stormwater system approval and final occupancy. The amendment also requires the developer to post a $150,000 escrow as additional security, reaffirm existing letters of credit, and clarify the Village’s remedies for incomplete work.
Caroline Heights Apartments LLC holds this facilities contract with Elm Grove village.
Term as filed: TID Grant payable within 60 days after later of occupancy permit for last building and Village Engineer approval of SWM System; $150,000 escrow forfeitable or refundable within 45 days after temporary occupancy permit issuance for final building.
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Contract details
- Contract type
- Facilities
- Amount
- $8,466,000 TID Grant; $150,000 escrow deposit; $1,400,000 letter of credit security referenced; potential reduction of letter of credit to $530,000
- Document date
- August 26, 2025
- Term
- TID Grant payable within 60 days after later of occupancy permit for last building and Village Engineer approval of SWM System; $150,000 escrow forfeitable or refundable within 45 days after temporary occupancy permit issuance for final building
- Agency
- Elm Grove village
- Source document
- village_of_elm_grove_board_of_trustees_agenda_augu.pdf (Agenda)
Caroline Heights Apartments LLC's other public contracts
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Questions about this contract
Who was awarded the facilities contract by Elm Grove village?
Caroline Heights Apartments LLC was awarded this facilities contract by Elm Grove village, as recorded on August 26, 2025. The contract value is $8,466,000 TID Grant; $150,000 escrow deposit; $1,400,000 letter of credit security referenced; potential reduction of letter of credit to $530,000.
How much is the Caroline Heights Apartments LLC contract with Elm Grove village worth?
The Caroline Heights Apartments LLC contract with Elm Grove village is valued at $8,466,000 TID Grant; $150,000 escrow deposit; $1,400,000 letter of credit security referenced; potential reduction of letter of credit to $530,000, covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a agenda record.
Where was this contract approved?
This contract appears in village_of_elm_grove_board_of_trustees_agenda_augu.pdf (Agenda), dated August 26, 2025 from Elm Grove village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Caroline Heights Apartments LLC hold?
Caroline Heights Apartments LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Elm Grove village currently buying?
Explore Elm Grove village's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.