Village financing paves way for new Ascension small-scale hospital in Menomonee Falls

Action by the Menomonee Falls Village Board is paving the way for a new Ascension hospital to be built in the village.

A split board narrowly voted Jan. 20 to approve an agreement to provide tax incremental financing for the 33,000-square-foot health center and small-scale inpatient hospital at N88 W14167 Main St., the site of the former Ernie von Schledorn auto dealership. 

According to village documents, the village will rebate Cobalt Evs Health LLC70% of new incremental value created each year. With a cap of 15%, and with the assumption that the development would be assessed at roughly $20 million, the village would expect to provide about $2.8 million in tax incremental financing, or TIF, assistance.