Sherwood Cliffs Apartments’ unpaid PILOT and redevelopment worries remain on Village agenda

Trustees across multiple 2012 meetings pressed Sherwood Cliffs Apartments’ representatives for updates on unpaid Payment In Lieu Of Taxes (PILOT) and related utility arrears.

At several meetings (notably in February, March and later board packets), Clerk Susan Williams provided the Board with notices and correspondence regarding unpaid 2010 PILOT amounts. Manager representatives from Wisconsin Management Company reported a deferred‑payment plan and a small utility payment but also said a proposed restructuring (including a $150,000 debt forgiveness request to USRDA and re‑amortization) was under consideration; they warned that foreclosure remained possible if a plan faltered. The Board denied a request to waive interest on unpaid PILOTs and asked management to provide occupancy rates and concrete corrective steps.

Why it matters: Unpaid PILOT and utility balances affect Village revenues and force trustees to weigh collection, enforcement and the social impacts of potential foreclosure on tenants. The Board repeatedly directed the Village Attorney to explore legal remedies while continuing to request regular status updates from property managers.

Attributions: The Clerk and Village Administrator reported the outstanding balances and communications. Manager Chris Hand of Wisconsin Management Company told Trustees that the property remained financially challenged and had submitted a restructuring plan to the USRDA.

Next steps: The Board asked staff to continue monitoring payments, to insist on written repayment plans, and to bring any foreclosure or legal options back to the Board for formal action.