What's News in Pleasant Prairie, Wisconsin

Tax Incremental Districts
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 corporate campus, parcels in LakeView Corporate Park and land owned by Abbott Laboratories (and others) west of I-94. During 2010, Uline has taken occupancy of their new corporate headquarters and has presented plans for future development on their property. Work on the West I-94 Frontage Road was also completed during 2010.

TID #4, is a smaller, developer funded, district located at the southeast 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 2011
The Village will continue work within TID #2 to foster future economic development. Despite severe economic challenges throughout the country over the last three years, economic development in the Village has, thus far, remained relatively balanced. See page 7 of your November 2010 Village Newsletter to learn more about economic development in the Village.

TIDs receive 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 2010, approximately $3.85 million went to pay down debt in TID #2. In 2011, this amount is expected to be $6.5 million. Property taxes collected from residential taxpayers are not used to pay for any TID improvements, programs or debt.

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