What's News in Pleasant Prairie, Wisconsin
Tax Increment District
Back to News
In order to provide for needs that will allow the continued success of Tax Increment District #2 (TID #2), Village staff initiated an amendment to the District. This fourth amendment to TID #2 will bring the project total to $94.2 million, which amounts to a $15 million increase in TID #2 funding over the last amendment approved in 2008. Amendments proposed to the TID #2 Project Plan were considered at a Plan Commission meeting on Monday, August 13 and subsequently considered and approved at a Village Board meeting on August 20.
The revisions are directly related to: an upcoming expansion of the Uline Corporate Campus south of Highway Q, west of I-94; updates of financial estimates to complete infrastructure improvements; the provision of financial incentives for quality, family-sustaining jobs; and the acquisition of easements and land for transportation, sewer and stormwater improvements. The $15 million increase is comprised of approximately: $6.8 million for roadway improvements; $6 million for Uline site improvements (less $5.2 million in improvements no longer to be completed); $3.1 million for sewer, water and stormwater improvements; $1.7 million for a multi-modal transportation lot; $1.3 million for economic development incentives; and $1.3 million in land acquisition, administrative and other costs.
TID #2 HISTORY
The first TID in Pleasant Prairie was created in 1989 to assist in the establishment of LakeView Corporate Park. It was retired in 1999, ten years earlier than originally anticipated. The initial value of TID #1 was $15.75 million, and today, corporate park development in Pleasant Prairie is valued at $744 million and accounts for 31.07% of the total value of the Village. This creates a substantial benefit in the amount of property tax residents in Pleasant Prairie pay each year.
In 1999, TID #2, a TID suitable and zoned for industrial sites, was created to provide for additional industrial development within LakeView Corporate Park. In 2002, the Village adopted an amendment to TID #2 to provide the Village Community Development Authority the ability to identify, acquire, and redevelop blighted properties along the I-94 corridor. In 2004, the Village made a second amendment to TID #2 in order to install broadband infrastructure. The installation of the fiber optic network has better enabled TID #2 to attract businesses with better paying jobs and significantly higher land values. A third amendment to TID #2, made in 2008, provided funding for the installation of municipal infrastructure and utilities to accommodate the construction of Uline’s corporate campus on the west side of I-94 south of Highway Q.
This fourth amendment proposed to TID #2 will enable the Village to further accommodate the continued success of the District that, thus far, has lent a great deal of stability to the local economic environment. Following are brief descriptions of project updates related to the most recent amendment.
The first phase of Uline’s Corporate Campus in Pleasant Prairie, which was completed in 2010, currently employs an estimated 800 positions, with 600 positions in their corporate offices and 200 positions in the current warehouse. A future Uline Campus expansion will consist of the construction of a second warehouse/distribution center (1.25 million square feet). It is estimated that the expansion will add up to 250 positions once fully operational. The required infrastructure improvements associated with the project involve: storm water facilities, a fire loop around the building, mass grading, parking and maneuvering lanes, water, sanitary sewer, landscaping and additional improvements.
Roadway and sewer improvements along 39th Avenue north of 104th Street are meant to prepare for the future development of the Village Green Center for commercial uses.
A multi-modal transportation lot inside Prairie Springs Park is intended to include retail components and parking for commuters and patrons. Future plans could include a regional bus stop and Amtrak platform.
Funds for economic development incentives would be used to attract new businesses that would provide high-quality jobs with family-sustaining wages.
Funding will also be allocated to: make water and sewer utility improvements to accommodate additional demand; perform site preparation for property along I-94 that was made developable with the recent relocation of the west frontage road; and perform intersection improvements at State Highway 165 and County Highway H.
Financing for TID #2 projects, in the form of general obligation bonds, will be issued in the years that projects are undertaken. Debt for the TID will be repaid with property taxes from businesses within the District. Once all of the debt for the TID has been repaid, the District will be retired, and the property tax payments will then be directed back to the taxing entities. It is expected that TID #2 will be retired in 2021, or earlier, depending upon the success of the development within the TID.
“The TID projects in Pleasant Prairie have provided quality, sustainable economic development for our area,” stated John Steinbrink, Village President. “Our commercial and industrial residents are a great asset to our community. They provide employment, contribute to our tax base, reinvest in the community, and help to grow and balance the local and regional economy. We, in turn, offer them a great place in which to conduct business and a great place for their employees to live, work and play.”
With the August 20 approval granted by the Village Board, the proposed amendment will now go before a Joint Review Board comprised of representatives from all of the taxing entities for consideration.