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 future corporate campus, parcels in LakeView Corporate Park and land owned by Abbott Laboratories (and others) west of I-94. TID #4, is a smaller district located at the corner of 22nd Avenue and 91st Street. Work in each of these districts has continued throughout 2008. In TID #2, work is continuing on the construction of a force main and Lift Station 73-1, and the installation of water main in Highway Q between the Uline and Abbott Laboratories properties. In TID #4, a developer has completed the removal of contaminated soils and is watching the economic indicators to judge the best time to begin construction of condominiums at the site.

WHAT TO EXPECT IN 2009
During 2009, construction within TID #2 will continue and construction in TID #4 is expected to begin. In 2009,TID #2 will borrow over $11 million to complete sewer, grading, roadway and water improvements. The improvements will continue to pave the way for future economic development west of I-94.

Tax Incremental Districts receive income from taxes paid by businesses within the boundaries of the district. These funds are 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, it is expected that the Property Tax Increment (or the amount allocated to pay down the debt) will be $4.4 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.

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