With a proposed hotel project at the corner of Howell and College avenues and , the Oak Creek Common Council on Tuesday will consider a measure that would withdraw its support for $4.5 million in developer assistance.
According to a report to council members, the proposal "represents an unnecessary risk to the city and its taxpayers and could put in jeopardy the outstanding credit rating the city currently enjoys."
The city has not yet provided any of the $4.5 million, which would come from a tax-incremental financing district and was .
Losing support of the city would be another blow for the development, which was to feature a Four Points by Sheraton hotel and a long-term parking lot for travelers using Mitchell International Airport. Earlier this week, the Milwaukee Journal Sentinel reported the developer from three defaulted loans.
The report to council members indicates city officials have been frustrated over delays and do not believe the project "warrants further investment of valuable staff time."
The council will discuss the proposal in its meeting Tuesday.