What's News in Pleasant Prairie, Wisconsin
Tax Incremental Districts
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The Tax Incremental District (TID) portion of the Village budget operates independently of the other areas (General Government and Enterprise Funds). The Village currently has two established Tax Incremental Districts. TID #2 ranges from Hwy 31 to west of I-94. It contains specific properties, including: Uline’s future corporate campus, parcels in LakeView Corporate Park and land owned by Abbott Laboratories (and others) west of I-94. Work in TID #2 progressed throughout 2009. It included the construction of sewer, grading, roadway and water improvements. The improvements will continue to pave the way for future economic development west of I-94.
TID #4, is a smaller, developer funded, district located at the corner of 22nd Avenue and 91st Street. In TID #4, the removal of contaminated soils was completed in 2008. The developer is continuing to watch the economic indicators to judge the best time to begin construction of condominiums at the site.
WHAT TO EXPECT IN 2010
During 2010, the Village will continue and enhance efforts within TID #2 to pave the way for future economic development, and work on the West I-94 Frontage Road to accommodate future development will be completed.
A TID receives income from taxes paid by businesses within the boundaries of the district. This income is used to pay down debt incurred to spur development. Once the debt incurred for development is repaid, the property taxes from businesses within the district are directed back to the taxing entities. During 2009, approximately $4.4 million went to pay down debt in TID #2. In 2010, this amount is expected to be more than $4.7 million. Property taxes collected from the general population (properties outside of the TID boundaries) are not used to pay for any TID improvements, programs or debt.