Madison proposes TIF district for south side revitalization


Madison proposes TIF district for south side revitalization


MADISON, Wis. (WMTV) - City developers want to revitalize the south side of Madison through a $115 million project funded through taxes, but without raising taxes.

City of Madison Economic Development Director Matt Mikolajewski is proposing a plan to form a new tax increment financing district on the south side of Madison called TID 51.

A TID or TIF is one specific area where the city can control how new tax revenue is spent. TID 51 revenue would be spent on public works projects, affordable housing, revitalization projects, and economic community development assistance for small businesses...

   ...more

Ken Notes: I am a fan of TID Financing but I like to see a specific project serve as the anchor tied to a binding development agreement. This guarantees both income from increment and serves as a catalyst for other growth. Not to mention you are not gambling with your investment.

Share this article on you social outlets



Our Sponsors
- - Volume: 11 - WEEK: 4 Date: 1/27/2023 10:25:47 AM -